The housing market keeps chugging along: According to the S&P/Case-Shiller Home Price Index released yesterday, American hosing prices have now climbed for 35 consecutive months. While historically home prices have risen about 1 percent a year, they're currently rising at 4.1 percent on an annual basis.
But the rate of increase has been slowed significantly. In the first three months of this year, home prices nationwide gained just 0.8 percent. That’s down from 1.2 percent during the first three months of last year and 2.8 percent in the same period of 2013.
The hottest cities for home prices include San Francisco, where prices increased 10.3 percent in the past year, and Denver, where they increased 10 percent. There isn't a market in this index in New Jersey, but the New York City market was the only one to post a decline in the past month, of 0.1 percent, although it still increased by 2.7 percent in the past 12 months.
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