The price of 20 major U.S. cities rose at the slowest pace in a year, another symptom that shows that the U.S. housing market remains weak. Specifically, the index S6P/Case-Shiller recorded an increase of 12.9% in March, the lowest increase in 12 months.
Experts estimate that despite this fact, the increased supply of cheaper housing, job creation and income growth over a sustained drop in funding costs could help attract more buyers. That said, experts expect that housing continues to rise.
The 20 cities showed annual increases, with 21.2% led by Las Vegas and 20.9% for San Francisco. However, Cleveland showed the smallest annual increase, with increases of 3.9%.
The price of housing throughout the United States rose 10.3% in the first quarter compared to the same period of 2013, slightly less than the 11.4% rise in the fourth quarter of 2013.