Tuesday, August 26, 2014

Annual Home Price Appreciation Slows in June

According to the Case-Shiller 20-city index, home price appreciation slowed to 1.0% in June. Notably, year-over-year growth has steadily declined from 13.1% in January to 8.1% in June, a trend that will likely continue. The 10-city index followed a similar pattern, as year-over-year growth slowed from 13.4% in January to 8.1% in June.

All 10 metropolitan areas saw home prices improve from the previous month. Moreover, every metropolitan area continues to see prices above year-ago levels. San Francisco had the slowest growth at 0.3%, but it came off the strongest growth the previous month. New York accelerated the fastest in June, improving 1.6%. Notably, the range of growth has narrowed, indicative of a normalizing market. Las Vegas continues to see the largest year-over-year growth, at 15.2%.

Read the S&P report.

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