August Home Prices Jump 19.8% Year-Over-Year

Home prices surged 19.8% year-over-year in August, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.

The uptick is equal to annual gains made in July. The 10-City Composite increased 18.6% (down from 19.2% in July), and the 20-City Composite increased 19.7% (down from 20.0% in July).

“August data also suggest that the growth in housing prices, while still very strong, may be beginning to decelerate,” S&P spokesperson Craig Lazzara stated.

Phoenix, San Diego and Tampa reported the highest annual home price gains among the 20 cities in August, increasing 33.3%, 26.2% and 25.9%, respectively.