U.S. housing prices have continued in their stratospheric rise but at a rate somewhat slower than the pattern from previous months, according to the leading source of metrics on the state of the housing market. On Tuesday, the S&P Dow Jones Indices released its latest data for the S&P CoreLogic Case-Shiller Indices, the leading metric of domestic housing prices. The report noted a 19.1 percent annual gain in housing prices, down from the previous report’s 19.7 percent annual gain, suggesting a subtle deceleration in housing gains even as prices continue to rise. The report suggested that the housing bull market peaked even before the Federal Reserve announced its new monetary policy entailing three rate hikes next year, which are expected to slow the growth of home prices. The S&P also noted that housing prices had risen most drastically in several major cities in the American South, noting a bullish trend in parts …
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