According to the latest S&P/Case-Shiller Home Price Indices for October 2014, the pace of home prices across the country continues to decelerate although eight cities did see prices rise faster, with Miami leading the nation with a 9.5% annual appreciation rate in 2014.

Miami and San Francisco have seen prices rise by 9.5% and 9.1%, respectively, over the last 12 months. Eight cities, including San Francisco, Denver, and Tampa saw prices rise faster in the year to October than a month earlier. Las Vegas led the declining annual returns with a decrease of -1.2%.

“After a long period when home prices rose, but at a slower pace with each passing month, we are seeing hints that prices could end 2014 on a strong note and accelerate into 2015,” says David M. Blitzer, MD and Chairman of the Index Committee at S&P Dow Jones Indices. He added: “Most national economic statistics, other than those connected to housing, posted positive reports in November and early December. Third quarter GDP was revised to 5% real growth at annual rates, and unemployment was at 5.8% as payrolls added over 300,000 jobs in November. Housing was more sombre, with housing starts pulling back 1.6%, existing home sales were at 4.93m, down 6.1%, and new home sales were 438,000, down 1.6%, all in November.”