【Zillow】February Case-Shiller Results and March Forecast: Home Price Growth Slowest Since 2012

Home prices continued to tap on the brakes in February, moderating their earlier breakneck speeds, particularly in pricey West Coast markets. The S&P CoreLogic Case-Shiller National Home Price Index, which tracks home prices nationally and in major metro areas, rose 4% in February from the previous year, a slowdown from 4.2% in January.

Less expensive metros are zooming past their pricey coastal counterparts in year-over-year price gains, creating a mix of market behaviors that indicates the housing market overall is normalizing rather than heading for a crash. Las Vegas, Phoenix and Tampa, Fla., reported the highest year-over-year gains in the 20-city composite index, which climbed 3% year-over-year, down from 3.5% in January. Las Vegas rose 9.7% year-over-year, followed by Phoenix at 6.7% and Tampa at 5.4%.

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