BY BRAD BECKETT ON SEPTEMBER 30, 2018
According to the latest S&P CoreLogic Case-Shiller Indices, home prices showed a 6% annual gain in July, down from 6.2% in June. Their 10-City Composite annual increase came in at 5.5% and their 20-City Composite posted a 5.9% year-over-year gain, down from 6.4% in the previous month. The S&P CoreLogic Case-Shiller Home Price Indices are one of the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
“Rising homes prices are beginning to catch up with housing,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Year-over-year gains and monthly seasonally adjusted increases both slowed in July for the S&P Corelogic Case-Shiller National Index and the 10 and 20-City Composite indices. The slowing is widespread: 15 of 20 cities saw smaller monthly increases in July 2018 than in July 2017…”