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Home Price Gains Continue Deceleration Trend
S&P Dow Jones Indices’ latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 3.1% annual gain in June, down from 3.3% in the previous month. The latest results continued a deceleration trend seen over the past several months.
The 10-City Composite annual increase came in at 1.8%, down from 2.2% in the previous month. The 20-City Composite posted a 2.1% year-over-year gain, down from 2.4% in the previous month.
Phoenix, Las Vegas and Tampa reported the highest Y-O-Y gains among the 20 cities, according to S&P Dow Jones Indices.
“Home price gains continue to trend down, but may be leveling off to a sustainable level,” said S&P Dow Jones Indices’ Philip Murphy. He noted that although the average Y-O-Y gain was lower for June than in the prior month, “fewer cities (12) experienced lower Y-O-Y price gains than in May (13).”
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- ◦Economy
