By Les Christie
December 29, 2009
NEW YORK (CNNMoney.com) — Home price gains earlier this year flattened out in October, according to a report issued Tuesday.
The S&P/Case Shiller Home Price index, covering 20 of the largest metropolitan areas in the nation, was unchanged in October, after four consecutive months of gains. The index is down 7.3% from 12 months earlier.
"The turnaround in home prices seen in the spring and summer has faded," said David Blitzer, chairman of the Index Committee at Standard & Poor’s, in a statement. "Coming after a series of solid gains, these data are likely to spark worries that home prices are about to take a second dip," he said.
Just seven of the 20 cities recorded gains from a month earlier.
The modest gains earlier this year were in part propped up by government initiatives.
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