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US Home Price Gains Slow in November   01/27 08:32

   WASHINGTON (AP) -- U.S. home prices rose at a modest pace in November, held 
back by weaker sales and a limited number of available houses.

   The Standard & Poor's/Case-Shiller 20-city home price index increased 4.3 
percent in November from 12 months earlier. That's down slightly from a 4.5 
percent pace in October. Sharp price increases early last year and tight credit 
held back home sales in 2014. Sales of existing homes fell 3.1 percent to 4.93 
million. Yet housing may rebound this year thanks to smaller price gains, lower 
mortgage rates, and healthy hiring.

   The Case-Shiller index covers roughly half of U.S. homes. The index measures 
prices compared with those in January 2000 and creates a three-month moving 
average. The November figures are the latest available.   


(KA)


 
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