The annual pace of US house price growth slowed in June, a survey has indicated, continuing a long-term deceleration in the US housing market.
The S&P/Case Shiller 20-city index saw an 8.1% year-on-year price increase in June, compared with a 9.4% rise in May.
Prices in Las Vegas, Phoenix, Miami and Tampa are still about a third below their housing bubble peaks of almost a decade ago.
The deceleration pointed to a “more normal sector”, the company said.
“Home price gains continue to ease as they have since last fall [autumn],” said David M Blitzer, chairman of the index committee at S&P Dow Jones Indices.
“For the first time since February 2008, all cities showed lower annual rates than the previous month,” he said.
Source: BBC
