In June, the S&P/Case-Shiller national index grew marginally at a seasonally adjusted 0.3 percent with 6.2 percent annual growth.
The second, 20-city index increased 0.1 percent that month, with slightly more annual growth at 6.3 percent. Home price growth is slowing down, nationally and in the 20-city index by 0.2 percent, MarketWatch reports, pointing out that the growth is still double the rate of inflation and of wage growth. Of the 20 cities measured in the index, six had stronger price growth annually in June than in May 2018.
The West is still the best, and Las Vegas is the one to beat. After years of Seattle charting the strongest price growth, Vegas led the way in June, followed by Seattle and San Francisco. New York, which has been slammed by recent tax-law changes, was the only metro to chart a monthly decline. But its 3.8 percent annual gain wasn’t the lowest: Washington, D.C., prices rose only 2.9 percent for the year.
Advertisement
Related Stories
Townhomes
Townhome Construction Gains in Popularity as Buyers Seek Medium-Density Housing
Townhouses made up 18% of single-family housing starts during Q1 2024
Housing Markets
5 Housing Markets That Would See a Huge Increase in Homeownership if Mortgage Rates Dropped
Spokane, Wash., would experience an 11.4% increase in affordability if rates dropped to 6%
Housing Markets
Spring Housing Markets: Which Markets Saw the Most Appreciation, and Which Saw the Least?
Florida metros saw the weakest appreciation of all housing markets in the US