Home Price Index Finds Increases Decelerating
The S&P Case-Shiller Home Price Indices are among the leading measures of U.S. home prices. The indices cover all nine census divisions and have been tracking home prices for nearly 30 years. According to the S&P's most recent release, prices are still increasing, but the increases are getting smaller. In fact, the national index found year-over-year increases were 2.3 percent slower than they were in the previous month's report. The deceleration was the largest in the history of the index.
Craig J. Lazzara, managing director at S&P, says the data shows prices are moving in the same direction all over the country. “The theme of strong but decelerating prices was reflected across all 20 cities,” Lazzara said. “July's year-over-year price change was positive for each one of the 20 cities, with a median gain of 15 percent, but in every case July's gain was less than June's.” Though all regions have experienced continued price increases, the South and Southeast continue to show the strongest growth, with Tampa and Miami leading all included cities.
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