Key Points:
- The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 18% in the year that ended in June, down from 19.9% in the previous month.
- The 20-City Composite posted a 18.6% year-over-year gain, down from 20.5% in the previous month.
- The 10-City Composite posted a 17.4% year-over-year gain, down from 19.1% in the previous month.
- Tampa reported the highest gains among the 20 cities in June with a 35.0% year-over-year price increase, followed by Miami with a 33.0% increase, and Dallas with a 28.2% increase.
- The housing market has cooled in recent months, and existing-home sales have fallen for six straight months as of July.
- The Right Facts will continue to monitor home prices.