Annualized home price increases in America’s 10 largest cities were up only 1.6% in July vs. being up 3.2% across all nine U.S. census divisions, according to S&P CoreLogic Case Shiller U.S. National Home Price Index. San Francisco, New York and L.A. were virtually flat while Seattle saw prices decline by 0.6%.
In a press statement, Philip Murphy, Managing Director and global head of index governance at S&P Dow Jones Indices said, “Home price gains remained positive in the low single digits in most cities, and other fundamentals indicate renewed housing demand”.