House Prices Rise Again In July first appeared on Floating Path.
S&P Case-Shiller Home Prices increased in July, with the 10-City composite and 20-city composite indices both ticking up 0.6% (not seasonally adjusted).
Year over year, the 20-City Composite is up 6.7%. This is a slower annual rate of growth than the 8.1% in June and the 13.6% rate in October 2013.
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The national house price level is now roughly equal to where it stood in November 2004.
Of the 20 cities tracked in the index, Los Angeles has had the greatest increase in home prices since 2000, while Detroit has been the only city where prices have declined over the past 14 years.
From a year ago, house prices have increased the most in Las Vegas, where they rose 12.8%. Cleveland has had the slowest rate of annual increase, rising only 0.9%.
Dallas and Denver are the only cities whose prices have increased beyond their pre-recession peak. Las Vegas remains the furthest below its peak.
The U.S.Federal Housing Finance Agency saw its national house prices increasing 0.1% in July (not seasonally adjusted), and increasing 4.4% from a year ago.
The FHFA HPI is calculated using home sales price information from mortgages either sold to or guaranteed by Fannie Mae and Freddie Mac.
The U.S. index is 6.4% below its April 2007 peak and is roughly the same as its July 2005 index level.
Of the 9 different geographic census divisions that FHFA tracks, house prices have increased the most year over year in the Pacific and increased the least in the Middle Atlantic.
In both the Case-Shiller index and the FHFA index house prices continue to increase, but the pace is slowing.