Improvement in home prices south of the border took a slight breather in March, according to figures released Tuesday morning after a long weekend.
Nationally, values rose 6.5% annually, unchanged compared with February, according to the S&P CoreLogic Case-Shiller home price indexes. February's reading was revised higher.
The index also says, though, that larger cities, are seeing bigger gains. The nation's 10 largest metropolitan markets saw home prices increase 6.5% annually, up from 6.4%in the previous month. The 20 largest cities posted a 6.8% annual increase, unchanged from the previous month.
Seattle, Las Vegas and San Francisco continue to lead in price gains. Seattle home values rose 13% annually. Twelve of the top 20 cities saw greater annual price increases in March compared with February.
Nationally, home prices are 7.8% above their previous peak during the housing boom of 2006. Prices back then were driven almost entirely by a very loose lending environment. Borrowers with low credit could put no money down to buy and flip homes. Today, credit conditions are far more strict.
