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Home Prices Lose Momentum  Data through December 2013, released by S&P Dow Jones Indices for its S&P/Case-Shiller Home Price Indices, showed that national home prices closed the year of 2013 up 11.3 percent. This represents a slight improvement over last quarter’s annual rate of 11.2 percent. In the fourth quarter of 2013, the National Index declined 0.3 percent.

In December, the 10-City Composite remained relatively unchanged while the 20-City Composite showed its second consecutive monthly decline of 0.1 percent. Year-over-year, the 10-City and 20-City Composites posted gains of 13.6 percent and 13.4 percent, approximately 30 basis points lower than their November rates.  More info

Pending home sales reverse two-month declineWith the statewide housing inventory slowly improving, California pending home sales picked up steam in January and reversed a two-month decline, but pending sales were still down from a year ago, C.A.R. reported. California pending home sales posted higher in January, with the Pending Home Sales Index (PHSI) jumping 22.9 percent in January to reach 84.8, up from a revised index of 68.9 in December, based on signed contracts.  Pending sales were down 17.5 percent from the revised 102.8 index recorded in January 2013.  The year-over-year decline was the fifth straight annual double-digit drop in the PHSI.  Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.  January saw an increase in active listings across all property types, especially in equity properties, which helped to improve housing supply conditions.  The Unsold Inventory Index for equity sales climbed from 3 months in December to 4.4 months in January.  The supply of REOs rose from 2.8 months in December to 3.2 months in January, and the supply of short sales increased from 3.2 months in December to 4.6 months in January. More info