U.S. home prices ticked down 0.1% in January, with 12 of 20 tracked cities posting drops, according to S&P/Case-Shiller’s 20-city composite index. After seasonal adjustments, home prices in January rose 0.8%.
Separately, the Federal Housing Finance Agency reported that prices rose 0.5% on a seasonally adjusted basis in January. The FHFA based its home-price gauge on information from mortgages sold or guaranteed by Fannie Mae and Freddie Mac.
On a year-over-year basis, home prices rose 13.2% in January, down from 13.4% in December and a recent peak of 13.7% in November, according to the Case-Shiller data.