Home prices had an 18.0% gain in June, down from the 19.9% gain reported in May, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index. May’s home prices were also down from April’s 20.6% year-over-year gain.
“Prices are clearly increasing at a slower rate,” stated S&P spokesperson Craig Lazzara. “It’s important to bear in mind that deceleration and decline are two entirely different things, and that prices are still rising at a robust clip.”
The 10-City Composite annual increase was 17.4% in June, down from 19.1% in May. The 20-City Composite annual increase was 18.6%, down from 20.5%.
Tampa, Miami and Dallas had the highest year-over-year gains in June, growing 35.0%, 33.0% and 28.2%, respectively.
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