Home prices in the U.S. continued to rise in June, but annual price gains took a small step back, according to the latest S&P CoreLogic Case-Shiller Indices.
Prices of homes in June grew 6.2 percent compared with June 2017, down from a 6.4 percent annual gain in May.
“Even as home prices keep climbing, we are seeing signs that growth is easing in the housing market,” said David Blitzer, managing director and chairman of the Index Committee at S&P Down Jones Indices, in a statement. “Sales of both new and existing homes are roughly flat over the last six months amidst news stories of an increase in the number of homes for sale in some markets.”
The 10-City Composite annual increase registered at 6.0 percent, a decline from 6.2 percent the prior month, and the 20-City Composite rose 6.3 percent compared with June 2017, down from a 6.5 percent annual gain in May 2018.
Las Vegas overtook Seattle as the city with the highest year-over-year home price gains among the 20 cities, jumping 13.0 percent since June 2017. Seattle came in second with a 12.8 percent increase, followed by San Francisco, which saw an increase of 10.7 percent.
