U.S. house price gains seen moderating over next few years

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U.S. house price gains seen moderating over next few years

BY ELVINA NAWAGUNA
WASHINGTON Fri May 30, 2014 11:46am EDT

Homes are seen for sale in the northwest area of Portland(Reuters) – U.S. house price rises will likely slow further over the next two years, curbed by tight lending standards, slow wage growth and a lack of first time buyers, a Reuters poll found.

Home price gains, which have already begun to moderate, are seen rising 7.5 percent this year but only 4.0 percent by 2016, according to the median forecasts of the 31 analysts surveyed.

That is a significant slowdown from the 12.4 percent rise reported in the 12 months through March on the S&P/Case-Shiller gauge of property values in 20 metropolitan areas.

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