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31 » VISIT US ONLINE @ DSNEWS.COM Alternate Home Price Indices Record Weaker Gains in Q4 2013 The S&P/Case-Shiller index returned double-digit home price gains for October, yet two other industry gauges report significantly lower appreciation. While the S&P/Case-Shiller Home Price Indices for October showed a significant 13.6 percent year-over-year leap, other measures saw more subdued gains for the month. Lender Processing Services' (LPS) monthly Home Price Index—released a day before the Case-Shiller figures—climbed to $232,000 in October, putting prices about 8.2 percent higher than they were at the start of 2013. Annually, LPS' index was up approximately 8.8 percent, a minor increase compared to the annual improvement in the Case-Shiller index. Monthly, gains came to about 0.1 percent, also down relative to the Case-Shiller report. Of the largest state markets, all posted a monthly gain of less than 1 percentage point, with Rhode Island topping out at 0.8 percent. e story was similar for price declines, with Oklahoma reporting the greatest monthly depreciation at -0.4 percent. A separate home price index from Zillow also recorded weaker gains, although Zillow's latest assessment tracked price movements during the month of November. More than three-quarters of the metros tracked by the company experienced price increases in November. Zillow's Home Value Index (HVI) stood at $168,900 in November, an increase of 0.6 percent month-over-month. On a yearly basis, the company's index was up 7.1 percent, reflecting a slight slowdown from the 7.3 percent peak recorded in the summer. "Much of this year's rapid growth in home values can be attributed to very strong demand, as low mortgage interest rates, relatively low home prices, and a slowly improving economy helped draw buyers into the market," said Zillow chief economist Dr. Stan Humphries. "ose dynamics are now giving way to more moderating influences, including rising mortgage interest rates, flagging investor demand, and slowly increasing for-sale inventory." Out of the 485 markets tracked by Zillow, 77.1 percent experienced home value appreciation between October and November, with 19.6 percent reporting declines. Annually, about 88 percent saw home values increase. Major markets where home values rose the most over the last year included Las Vegas (+30.9 percent), Riverside (+29.2 percent), and Sacramento (+25 percent), according to Zillow. For the next 12-month period, the company anticipates a fairly significant leveling off in appreciation rates, with values rising an estimated 4.6 percent to a national average of $176,731. According to Humphries, the slowdown "will contribute to a more balanced market, and will help to ease some emerging affordability problems in a handful of very hot markets, particularly in California." butlerandhosch.com MOVING BUSINESS FORWARD. PRACTICE AREAS: Foreclosure, Bankruptcy, Litigation, Loss Mitigation, REO, Title, and Eviction SEVEN STATES: Florida, Georgia, Louisiana, Mississippi, North Carolina, South Carolina and Texas After 40 years in the business, we understand climate change. The business world is constantly moving, and those who can't keep up are at risk of being left behind. That's where we come in. Butler & Hosch is a regional law firm that operates at the speed of business, offering our clients experience, expertise and efficiency - with the ultimate goal of exceeding your business expectations. Want to move forward? Find out more at butlerandhosch.com or contact us at oneroof@butlerandhosch.com