US home prices dip in Jan. for 3rd straight month
WASHINGTON (AP) -- U.S. home prices dipped in January for a third straight month, likely because of slower sales in recent months caused by cold weather, a limited supply of homes and higher mortgage rates.
The Standard & Poor's/Case-Shiller 20-city home price index, released Tuesday, declined 0.1 percent from December to January, the same drop as the previous two months. That figure is not adjusted for seasonal variations, so the dip partly reflects weaker winter sales.
The index rose a healthy 13.2 percent in January compared with 12 months earlier. But that is down from a 13.4 percent increase in 2013 and is the second straight decrease.