Price remain high, but as we and many others have been noting, the growth is slowing. The latest Case-Shiller report underlines that fact, with July numbers down compared to June.
The Case-Shiller report found the U.S. National Home Price Index rose 15.8 percent year-over-year, down from 18.1 percent in June. The 10-City Composite annual increase came in at 14.9 percent, down from 17.4 percent the previous month. The 20-City Composite posted a 16.1 percent year-over-year gain, down from 18.7 percent in the previous month.
Across the top 20 markets, Tampa, Miami and Dallas reported the highest year-over-year gains. Tampa led the way with a 31.8 percent year-over-year price increase, followed by Miami with a 31.7 percent increase, and Dallas with a 24.7 percent increase.
Before seasonal adjustment, the U.S. National Index posted a -0.3 percent month-over-month decrease in July, while the 10-City and 20-City Composites both posted decreases of -0.8 percent.
The August S&P CoreLogic Case-Shiller Indices will be released on Tuesday, September 27.