abc
QUICK LINKS:

US Home Price Gains Slow for Third Straight Month

Created: 04/29/2014 11:08 AM WDIO.com

WASHINGTON (AP) - U.S. home price gains cooled in February for the third month in a row, as harsh winter weather and high buying costs have slowed sales.

The Standard & Poor's/Case-Shiller 20-city home price index rose 12.9 percent in February compared with 12 months earlier. While healthy, that is down from a 13.2 percent gain in January.

And home prices fell in 13 of the 20 cities in February compared with the previous month. The index is not adjusted for seasonal variations, so those declines partly reflect weaker sales in the winter.

In addition to bad weather, sales have also been held back by a limited supply of available homes, which has forced potential buyers to bid up prices. Most economists forecast that price gains will keep dropping this year.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
 

Front Page

  • A federal judge has dismissed the City of Duluth's attempt to restore an agreement that had given the city millions of dollars in revenue from the Fond-du-Luth Casino annually. Duluth Loses Bid to Restore Casino Agreement

    A federal court has dismissed the City of Duluth's attempt to reinstate an agreement that had provided the city with millions of dollars annually from the Fond-du-Luth Casino.  In an opinion Tuesday, U.S. District Court Judge Colleen Kollar-Kotelly upheld a notice of violation issued in 2011, saying the National Indian Gaming Commission was within its rights to issue the violation.

  • FILE - U.S. Steel has announced plans to partially idle Minntac in Mountain Iron effective June 1. US Steel to Partially Idle Minntac, Potentially Affecting 700

    Three weeks after announcing plans to temporarily idle Keewatin Taconite, U.S. Steel has announced plans to temporarily idle a portion of the Minntac plant in Mountain Iron.  The company did not announce exactly how many employees will be affected, but union officials told Eyewitness News they expected about 700 workers to be impacted.

  • The Minnesota State Patrol supplied this photo of the damage caused by a plane's propeller after the plane was forced to make an emergency landing on a highway east of Moorhead on Tuesday. Propeller Slices into Car on Minnesota Highway

    A woman driving on a highway east of Moorhead noticed a strange sight in her rear view mirror Tuesday: a small plane.  Moments later, the plane's propeller shredded the side of the car, but fortunately, no one was hurt.

  • Carlton Co. Authorities Investigate Store Robbery

    The Carlton County Sheriff's Office is looking for the person who robbed a convenience store at knifepoint on Monday evening.

  • Moose Lake Man Accused of Threatening Family Members

    A Moose Lake man faces several charges after a domestic disturbance at a Moose Lake Township home Monday evening.

 
Advertisement