Home prices grew 6.0 percent in July compared with July 2017 prices, according to the S&P CoreLogic Case-Shiller Index.
The annual gain is down slightly from a 6.2 percent year-over-year increase in June.
The 10-City Composite annual increase in July was also lower than the previous month, growing 5.5 percent compared with 6.0 percent. The 20-City Composite grew 5.9 percent year-over-year, a decline from June’s 6.4 percent growth.
“Rising home prices are beginning to catch up with housing,” stated David Blitzer, managing director and chair of the S&P Index Committee. “The slowing is widespread: 15 of 20 cities saw smaller monthly increases in July 2018 than in July 2017.”
Las Vegas, Seattle and San Francisco continued to record the highest annual gains in the cost of homes; Las Vegas was highest with a 13.7 percent increase. Seattle and San Francisco followed with price jumps of 12.1 percent and 10.8 percent, respectively.
