Case-Shiller: Home price growth remained slow in February

"More than half of major U.S. metropolitan markets posted year-over-year price declines in February, signaling that the housing slowdown has broadened well beyond its Sun Belt origins."

"Denver displaced Tampa as Case-Shiller's weakest market, falling 2.2% annually while Tampa dropped 2.1%. Los Angeles (-0.8%) and Washington (-0.1%) joined the list of decliners."

"Before seasonal adjustment, the Case-Shiller's National Index rose 0.3% in February. After adjustment, the National and 10-City Composites were flat at 0.1% while the 20-City Composite slipped 0.05%."

"Mortgage rates near 6% continued to weigh on affordability. HousingWire Data reported 2.4 months of inventory for February."

In February, over half of major U.S. metropolitan markets reported year-over-year price declines, with Denver and Tampa as the weakest markets. Los Angeles and Washington also saw declines. The Case-Shiller National Index rose 0.3% before seasonal adjustment but was flat after adjustment. Over the past year, prices increased 1.5% in the first half but fell 0.8% in the second half. High mortgage rates near 6% impacted affordability, and transaction delays in Wayne County affected the Detroit index update.

Read at www.housingwire.com