The deceleration in home price gains continued through August 2014, according to the S&P Home Price Indices (read the report here).
The 10-City Composite gained 5.5 percent year-over-year, and the 20-City 5.6 percent, both down from 6.7 percent in July. The National Index rose 5.1 percent annually. That figure was 5.6 in July.
Monthly, the National Index and Composite Indices showed a marginal increase of 0.2 percent in August. The highest city gain came from Detroit, which saw a 0.8 percent increase. San Francisco saw the sharpest decline in August, coming in 0.4 percent below July.
The entire Sun Belt region, especially the West Coat cities of Los Angeles and San Diego, saw its worst annual returns since 2012.
While the price indices softened, other housing data—housing starts, permits and sales of existing homes—increased.
"Continued labor market gains, low interest rates and slower increases in home price should support further improvements in housing," said David Blitzer, chairman of the Index Committee at S&P Dow Jones, in the report.
