Case-Shiller 20-city Home-price Index Declines 0.1% In October

U.S. home prices ticked down 0.1% in October, a second consecutive month of declining, cooling down after the summer sales market, according to S&P/Case-Shiller's 20-city composite index released Tuesday. Among 20 tracked cities, prices fell in 10, rose in eight and were unchanged in the remaining two. After seasonal adjustments, home prices among the 20 cities rose 0.8% in October -- the strongest result in seven months -- compared with a 0.2% increase in September. Meanwhile, annual growth slowed down, with year-over-year home prices rising 4.5% in October -- the slowest pace in two years -- compared with annual growth of 4.8% in September. Economists polled by Dow Jones Newswires had expected year-over-year price growth to slow to 4.7% in October. Annual home-price growth hasn't been in the double digits since April, and slower appreciation may lure buyers. Through October home prices were about 16% below a 2006 peak.