Retail home price growth fell slightly between September and October in an expected seasonal lag, according to the S&P/Case-Shiller Home Price Index.
The index showed that the 20-city composite still recorded a seasonally-adjusted growth rate of 4.3 percent year-over-year, but that many of the individual metro areas saw a small dip from September to October.
Chicago saw the greatest price drop on a monthly basis, with a seasonally-adjusted decline of 1.5 percent. Boston fell by 1.4 percent, followed by a drop in Dallas and Minneapolis of 0.7 percent.
Las Vegas saw an increase in prices of 2.8 percent during the month-long period.
Rental property management officials in the area can take heart in the fact that consumers in the area are not immediately deserting the rental market for the housing market. The improvement and growth of the retail housing sector is expected to be slow, with many ups and downs, meaning that property managers will continue to see incoming rental applications for some time.