S&P Dow
Jones Indices (S&P DJI) announced on Tuesday its Case-Shiller Home Price
Index, which tracks home prices in 20 U.S. metropolitan areas, demonstrated a 5.9
per cent y-o-y increase in July, following an unrevised 6.5 per cent y-o-y surge in June. This marked the weakest annual growth in house prices
since November 2023 (+5.4 per cent).
Economists had predicted
a gain of 5.8 per cent y-o-y.
According to
the report, all 20 cities showed
y-o-y advances in prices in July, led by New York (+8.8 per cent y-o-y), Las
Vegas (+8.2 per cent y-o-y), and Los Angeles (+7.2 per cent y-o-y).
In the meantime, the
S&P/Case-Shiller U.S. National Home Price Index, which measures all nine
U.S. census divisions, jumped 5.0 per cent y-o-y in July, following an upwardly
revised 5.5 per cent y-o-y climb (from +5.4 per cent y-o-y) in the previous
month.
On a m-o-m basis, the U.S. National Index edged
up 0.1 per cent, and the 20-City Composite was unchanged.