Pace of annual home-price gains slows in latest Case-Shiller Boston sees five point two percent increase MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

The pace of annual home price gains slowed again in most U.S. cities in December, while Seattle and San Francisco saw prices swing to negative territory, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. Specifically, the national index rose five point eight percent year-over-year, compared to a seven point six percent annual gain in November. The index was down point eight percent compared to November. “The prospect of stable, or higher, interest rates means that mortgage financing remains a headwind for home prices, while economic weakness, including the possibility of a recession, may also constrain potential buyers,”

 S&P DJI Managing Director Craig Lazzara noted in a press release. “Given these prospects for a challenging macroeconomic environment, home prices may well continue to weaken.” In Boston, home prices posted a five point two percent year-over-year gain in December; month over month, they were down point nine percent. The ten city composite index rose four point four percent on a yearly basis and fell point four percent on a monthly basis, while the twenty city composite rose four point six percent annually and slid point five percent monthly.  

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