US: Home Price appreciation moderates just a bit - Wells Fargo

According to analysts from Wells Fargo, the report of S&P/Case-Shiller showed that home prices rose modestly in April and explained that the recovery has not been broadly based. 
    
Key Quotes: 

“The S&P CoreLogic Case-Shiller National Home Price Index rose 5.5 percent over the year. The 20-City and 10-City indices rose 5.7 percent and 4.9 percent year-to-year, respectively.

“The split between the 20-City and 10-City indices reflects some moderating price appreciation in New York City, Washington D.C. and Chicago, all in the 10-City index, and continued rapid gains in Seattle and Portland, which are in the 20-City Index.”

“With Atlanta joining the club this month, seven of the 20 markets tracked by the 20-City index have surpassed their previous peak. Home prices in five other metro areas remain at least 15 percent below their prior peak level.”