Home prices appreciation falls in first quarter

U.S. home price appreciation in the first quarter of the year officially slowed down - to an 8.1% annual pace from 12.3% the previous quarter, according to the Office of Federal Housing Enterprise Oversight's quarterly home price index report, released June 1.

Appreciation for the first quarter alone was 2.03%, about one percentage point lower than the previous quarter, and what was the smallest quarterly price gain in two years.