Home Prices are Slowly Increasing

While home prices remain on the rise, the pace of their growth has slowed since late last year.

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The S&P Case-Shiller Index reported an annual increase of 9.3% in May, down from 10.8% in April. The largest recent year-over-year increase was 13.7% seen in November 2013.

Industry experts had expected the home prices to slow to more comfortable levels. In fact, this slower growth is welcomed by many economists, who had feared another housing bubble after such rapid growth. The current data is consistent with a “normal housing market,” experts say.

Increasing home prices over the past two years bring good news for many homeowners, who are no longer underwater on their homes after nearly five years of consistent home price decreases.