The housing market is always changing but not always at a fast pace. Home prices, for example, have been on a fairly steady trajectory now for months. In fact, according to the latest S&P Case-Shiller Home Price Indices – which is among the leading measures of U.S. home prices – national home price trends remain relatively flat, with Midwest and Northeast markets seeing gains and Sun Belt and Western cities seeing slight declines. Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices, says the regional differences are clear. “Geographic dispersion remains pronounced,” Godec said. “Chicago was again the strongest market with a 6.5 percent annual gain, trailed by New York (3.8 percent) and Cleveland (3.2 percent). Seattle’s 2.3 percent year-over-year drop was the steepest in April, with Denver (-1.8 percent), Tampa (-1.8 percent), Dallas (-1.6 percent), and Phoenix (-1.7 percent) also among the notable decliners.” (source)
