Home prices nationwide in July increased 4.7 percent year-over-year compared with June’s gain of 4.5 percent, according to the S&P/Case-Shiller U.S. National Home Price Index.
The 10-City Composite rose 4.5 percent year-over-year in July, down slightly from June’s 4.6 percent. The 20-City Composite increased 5.0 percent year-over-year, the same increase reported in June.
San Francisco, Denver and Dallas had the highest year-over-year gains in the 20-City Composite with price increases of 10.4 percent, 10.3 percent and 8.7 percent, respectively.
Month-over-month, the National Index showed a gain of 0.4 percent in July. The 10-City Composite and 20-City Composite both reported decreases of 0.2 percent month-over-month.
“Prices of existing homes and housing overall are seeing strong growth and contributing to recent solid growth for the economy,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.
