In August, the 10-city and 20-city home price composites rose 12.8 percent from August 2012, the largest annual increase since February 2006, according to the S & P/Case-Shiller Home Price Indices. Compared with July 2013, both composites rose 1.3 percent. All 20 cities reported positive year-over-year returns.
"The monthly percentage changes for the 20-City composite show the peak rate of gain in home prices was last April. Since then home prices continued to rise, but at a slower pace each month. This month 16 cities reported smaller gains in August compared to July. Recent increases in mortgage rates and fewer mortgage applications are two factors in these shifts," David Blitzer, chairman of the index committee at S & P Dow Jones Indices, said in a statement.
