Home prices rose in June at slowest pace in 10 months

Home prices rose in June at slowest pace in 10 months

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Image Via CBSNews.com

WASHINGTON – U.S. home prices rose modestly in June, pushed up by strong sales and a limited supply of available properties.

The Standard & Poor’s CoreLogic Case-Shiller 20-city home price index, released Tuesday, increased 5.1 percent in June compared with a year ago. That’s down from a 5.3 percent annual gain in May and is the slowest year-over-year pace since last August.

Home values are still soaring in the Northwest, but have slowed to more sustainable rates elsewhere. In Northeastern cities such as New York and Washington, D.C., they are rising at roughly the rate of inflation, and in Boston, less than 5 percent.

Read more at CBSNews.com

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