Chairman of S&P Dow Jones Index Cmte on S&P/Shiller Home Prices - Video - TheStreet

Home Price Increases in August Show Smallest Gain in Nearly Two Years

Home prices in the U.S. are still on the rise, but they are climbing more slowly than in months past.
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Home prices in the U.S. are still on the rise, but they are climbing more slowly than in months past. The S&P/Case Shiller Home Price Index showed August had the smallest year-over-year gains in nearly two years, gaining just 5.6 percent, that's down from a 6.7 percent gain in July and well below the increases market watchers saw in 2013. David Blitzer is the managing director and chairman of the S&P Dow Jones Index Committee. Blitzer says the slow but steady increases in home prices is a healthier approach for both homeowners and investors. Blitzer says south Florida, primarily the Miami market, is where he's seeing a lot of growth in housing price gains. Blitzer added that California's housing market remains a sore spot. TheStreet's Susannah Lee reports from New York.