The S&P/Case-Shiller HPI rose by 4.2 per cent in the 12 months to April following a 4.3 per cent rise in March.
There was little change in the month-over-month figures and the 10 city and 20 city indexes were also fairly steady.
Experts say that the slowing pace shows that the U.S. housing market is not overheating.
David Blitzer of S&P Dow Jones Indices told the Wall Street Journal
: “We’ve moved from something we couldn’t sustain to something that’s a lot more reasonable.”
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The latest data on home prices south of the border shows that national prices increased in April from March but that the pace of growth has slowed.