S&P CoreLogic Case-Shiller Index Reports 5.0% Annual Home Price Gain in July

On Tuesday, S&P Dow Jones Indices released its S&P CoreLogic Case-Shiller US National Home Price NSA Index for July. Year-over-year, the Index, covering all nine census divisions, posted an annual gain of 5.0%, down from a 5.5% annual increase in June.

The 10-City Composite posted an annual increase of 6.8% in July, down from 7.4% in June. The 20-City Composite increased 5.9% year-over-year, dropping from a 6.5% increase in June.

New York again reported the largest annual gain among the 20 cities with an 8.8% increase in July, followed by Las Vegas and Los Angeles with increases of 8.2% and 7.2%, respectively. Portland held the lowest rank for the smallest year-over-year growth, notching the same 0.8% annual increase in July as last month.

In July, the upward trends in the US National Index, the 20-City Composite, and the 10-City Composite continued to decelerate from last month, with pre-seasonality adjustment increases of 0.1% for the national index and both the 20-City and 10-City Composites remaining unchanged for the month.

After seasonal adjustment, the US National Index increased 0.2% month-over-month, while both the 20-City and 10-City Composites reported a monthly rise of 0.3%.