S&P: Slowdown in Home Price Gains Sustained Through June

The S&P Home Price Indices showed price increases slowed down in June, continuing the trend reported by S&P for May.

The National Index gained just 6.2 percent in the 12 months ending in June, and the 10-City and 20-City Composites grew only 8.1 percent—figures that mean growth has "considerably" slowed down from May, the S&P report noted.

“Home price gains continue to ease as they have since last fall,” said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, in a statement. “For the first time since February 2008, all cities showed lower annual rates than the previous month. Other housing indicators—starts, existing home sales and builders’ sentiment—are positive. Taken together, these point to a more normal housing sector."