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Post by bot on Sept 30, 2014 19:01:19 GMT -5
WASHINGTON (MarketWatch) -- U.S. home prices rose 0.6% in July, slower than the 1% rise in June, according to S&P/Case-Shiller's 20-city composite index released Tuesday. Among 20 tracked cities, all but one - San Francisco -- saw higher home prices in July, led by New York. A drop of 0.4% drop in San Francisco was the city's weakest result since February 2012. After seasonal adjustments, home prices among the 20 cities declined 0.5% in July - the biggest drop since October 2011 - compared with a 0.3% decline in June. Meanwhile, annual growth slowed down, with year-over-year home prices rising 6.7% in July -- the slowest pace since late 2012 -- compared with annual growth of 8.1% in June. Among the 20 tracked cities, 19 saw slower annual growth in July. Slower appreciation could encourage more buyers, though prices are still outpacing inflation. Through July home prices were about 16% below a 2006 peak.
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