Home prices are still rising, according to the latest numbers from the S&P Case-Shiller Home Price Indices. S&P’s National Home Price Index – which covers all nine U.S. census divisions – reported a 5.4 percent year-over-year gain through the end of June. But that’s down from the previous month when prices were up 5.9 percent from the year before. Which means, home prices are still rising but they’re showing signs of deceleration. Brian D. Luke, head of commodities, real & digital assets at S&P, says, even as they slow, price increases are outpacing inflation. “The S&P CoreLogic Case-Shiller Indices continue to show above-trend real price performance when accounting for inflation,” Luke said. “While both housing and inflation have slowed, the gap between the two is larger than historical norms, with our National Index averaging 2.8 percent more than the Consumer Price Index.” Regionally, the largest gains were seen in New York City, while Portland showed the slowest rate of increase. (source)
