Dive Brief:
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Home prices rose nationwide by an average of 4.6% between September and October, but that’s a smaller increase than the month before, according to the October Home Price Indices released this week by S&P/Case-Shiller.
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This marks the 10th consecutive month that the pace of price increases has slowed.
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Still, in eight cities, housing values are climbing faster. Those cities are: Dallas, Denver, Las Vegas, Los Angeles, Miami, Phoenix, San Francisco, and Tampa, according to the report.
Dive Insight:
Economists contend that it’s healthier for the economy when housing prices rise slowly than when they spike. In fact, Zillow Chief Economist Stan Humphries said the cooling price increases are bringing home values “back to earth” and predicted continued, gradual growth in 2015.