Home price growth slowed in February, with the S&P Case-Shiller US National Index rising 0.7% annually, down from 0.8% the prior month. Over half of major metro areas saw year-over-year declines, including Denver, Los Angeles, and Washington, DC. Inflation outpaced home price gains for the ninth month, resulting in negative real returns. The Federal Housing Finance Agency reported flat month-over-month prices and a 1.7% annual increase.