US home prices rise a modest 2.1% in June

August 27, 2019 - 9:09 am

WASHINGTON (AP) — U.S. home prices rose more slowly in June as some of the country's most expensive housing markets saw stagnant or even falling prices.

The S&P CoreLogic Case-Shiller 20-city home price index rose 2.1% in June from a year earlier, down from a 2.4% gain in May.

Prices fell 1.3% in Seattle and inched up 0.7% in San Francisco and 1.1% in New York. But prices rose 5.8% in Phoenix and 5.5% in Las Vegas.

Philip Murphy of S&P Dow Jones Indices said that prices have "clearly cooled off from 2018" but continue to grow. "Therefore, it is likely that current rates of change will be generally sustained barring an economic downturn," he said.

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