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In a recent analysis released by Kroll Bond Rating Agency (KBRA), senior managing director Christopher Whalen predicts many metros around the country will see home price appreciation switch to a much slower track—or even decline modestly, in some cases—as the factors directing the momentum of the last few years diminish and fundamental drivers start playing a bigger role.

The Warren Group reported Tuesday stating that 2,735 single-family homes were sold in Connecticut in August, a decline from 2,898 in August 2013. It was the third month in 2014 in which single-family home sales declined year-over-year in Connecticut, according to the Warren report.

The Conference Board reported a drop of nearly eight points in its monthly measure of consumer sentiment, putting the group's index at 86 from August's upwardly revised reading of 93.4. Economists had expected a slight nudge upward to 92.5 from an originally reported 92.4 the previous month.

Including seasonal factors, the S&P/Case-Shiller 10- and 20-city indices both posted a 0.5 percent decline from June to July, S&P Dow Jones Indices reported. Those losses compare to declines of 0.2 percent and 0.3 percent, respectively, from May to June. The National Index, recently added as a monthly (rather than quarterly) measure, inched up a meager 0.2 percent, a step up from its 0.1 percent drop in June.

The Bureau of Economic Analysis (BEA) reported Monday that personal consumption expenditures increased $57.5 billion—0.5 percent—month-over-month in August. The increase in spending followed a meager revised increase of less than 0.1 percent for July. Spending was helped by a 0.3 percent pickup in personal income, totaling an increase of $47.3 billion.

The National Association of Realtors (NAR) reported a 1.0 percent decline in its Pending Home Sales Index for August. The drop brings the index down to 104.7, its second highest reading so far this year. The drop in the pending sales measure came in the same month that the association reported a dip in existing-home sales.

Home price appreciation continues to slow across the country, registering a 0.2 percent increase over the month of July, according to Black Knight Financial Services. The firm's home price index stands at $241,000 as of the end of July.

Consumer confidence reached its highest level since the Great Recession in September, according to the Thomson Reuters and University of Michigan Surveys of Consumers. The index rose 2.5 percent over the month to 77.5. However, "confidence has repeatedly failed to move above this level," according to the survey.

Freddie Mac's Multi-Indicator Market Index (MiMi) fell back nearly half a percentage point to 73.4 in its latest reading, the company reported earlier this week. According to the company, the decline "appear[ed] to be broad-based, and not concentrated in a handful of state or metro markets." As of the latest reading, Freddie Mac says the index is up 22.7 percent from its all-time low in 2011.

In its third estimate, the Bureau of Economic Analysis (BEA) reported Friday that gross domestic product (GDP) increased at an annualized rate of 4.6 percent in the second quarter. The figure marks a step up from the bureau's last estimate of 4.2 percent growth, which in turn was up from an advance guess of 4.0 percent.