S&P Case-Shiller Home Prices increased in June, with the 10-City composite and 20-city composite indices both ticking up 1.0% (not seasonally adjusted).
Year over year, the 20-City Composite is up 8.1%. This is a rapid growth rate, but is considerably lower than the 9.4% Y/Y rate in May and the 13.6% Y/Y rate in October 2013.
The national house price level is now roughly equal to where it stood in October 2004.
Of the 20 cities tracked in the index, Los Angeles has had the greatest increase in home prices since 2000, while Detroit has been the only city where prices have declined over the past 14 years.
From a year ago, house prices have increased the most in Las Vegas, where they rose 15.2%. Cleveland has had the slowest rate of annual increase, rising only 0.8%.
Dallas and Denver are the only cities whose prices have increased beyond their pre-recession peak. Las Vegas remains the furthest below its peak.
The U.S.Federal Housing Finance Agency also released its June House Price Index figures today. They saw national house prices increasing 0.4% in June (not seasonally adjusted), and increasing 5.1% from a year ago.
The FHFA HPI is calculated using home sales price information from mortgages either sold to or guaranteed by Fannie Mae and Freddie Mac.
The U.S. index is 6.4% below its April 2007 peak and is roughly the same as its July 2005 index level.
The FHFA tracks 9 different geographic census divisions.
In both the Case-Shiller index and the FHFA index house prices continue to increase, but the pace is slowing.