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Thursday, December 5, 2024
HomeNewsEconomyS&P/Case-Shiller: Home Prices Flat in December, Expected to Slow

S&P/Case-Shiller: Home Prices Flat in December, Expected to Slow

pending-home-sales-sale-sign
pending-home-sales-sale-sign

Home for sale sign (Realtors) and potential exiting and pending home sales contract. (PHOTO: REUTERS)

Home prices in 20 major U.S. metro areas were flat in December on a non-seasonally adjusted basis, missing expectations for a 0.1% expected increase. According to the S&P/Case-Shiller home price index, which covers the nationwide data, increased 5.4% in the 12 months, more than a 5.2% increase in November but slightly expectations.

Economists polled by The Wall Street Journal expected a 5.9% increase in the 20-city index. Further, the managing director at S&P Dow Jones Indices said he expects home prices to cool over the current year.

“While home prices continue to rise, the pace is slowing a bit,” said Mr. David Blitzer.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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