Tuesday, September 30, 2014

Home Price Appreciation Continues to Slow

According to the Case-Shiller 20-city index, home price appreciation slowed to 0.6% in July. Notably, year-over-year growth has steadily declined from 13.1% in January to 6.7% in July, a trend that will likely continue due to increasing interest rates. The 10-city index followed a similar pattern, as year-over-year growth slowed from 13.4% in January to 6.7% in July.

9 out of the 10 metropolitan areas saw home prices improve from the previous month. Only San Francisco saw a 0.4% decline. Miami accelerated the fastest at 0.8%. All metropolitan areas continue to see prices above year-ago levels. Notably, the range of growth has narrowed, indicative of a normalizing market.

The 20-city index remains 16.1% below its 2006 peak.

Read the S&P release.

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