Home prices continued to climb during the spring, but the rate of the rise has slowed, according to the latest report issued by S&P/Case-Shiller.
Atlanta prices stayed ahead of the national trend.
The 20 largest cities saw a 9.3 percent increase in May from the same period a year before, according to the data released this morning.
Atlanta prices were up 11.2 percent from a year ago, one of the nine cities that posted double-digit increases in the closely-watched report. But Atlanta too saw average prices increasing, but at a slower clip: up 1.2 percent from April, compared to the 1.9 percent hike the month before.
“Home prices rose at their slowest pace since February of last year,” said David M. Blitzer, chairman of the Index Committee that releases the data, in a written statement. “Housing has been turning in mixed economic numbers in the last few months. Prices and sales of existing homes have shown improvement while construction and sales of new homes continue to lag. At the same time, the broader economy and especially employment are showing larger improvements and substantial gains.”
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