Home prices in all nine US census divisions rose 18% in June on an annual basis and edged down by 1.9 percentage points from the previous month; an S&P CoreLogic Case-Shiller report showed Tuesday.
The 10-City Composite grew by 12.8%, 2.2 percentage points lower than in May, while the 20-City Composite yearly increase stood at 18.6%, down by 1.9 percentage points compared to the previous month. The most significant price gains were observed in Tampa, Miami, and Dallas.
"The deceleration in US housing prices that we began to observe several months ago continued in June 2022, as the National Composite Index rose by 18.0% on a year-over-year basis," says Craig J. Lazzara, Managing Director at S&P DJI, while further adding, however, "that deceleration and decline are two entirely different things, and that prices are still rising at a robust clip."
