Home prices still climbing, but slowly - KCTV5

Home prices still climbing, but slowly

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Home prices continued to rise this spring, but the pace of increase has slowed since late last year. (Source: CNN) Home prices continued to rise this spring, but the pace of increase has slowed since late last year. (Source: CNN)

(CNN) - Home prices continued to rise this spring, but the pace of increase has slowed since late last year.

The S&P/Case-Shiller Home Price Index, a closely watched measure of home values, posted a 9.3 percent annual increase in its May reading, down from the 10.8 percent rate in April.

The good news for homeowners is that the index has now been up every month over the last two years.

A drop in mortgage foreclosures and unemployment, low mortgage rates and pent-up demand for people who had wanted to buy homes have combined to help lift home prices.

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