August data released this morning by S&P Dow Jones Indices reveals that, while home prices throughout the U.S. continue to increase, the rapid pace in those gains seen earlier continues to decelerate. The S&P/Case-Shiller National Index as well as both composite indices eked out 0.2 percent increases from July to August but all three slipped to lower year-over-year gains than they posted the previous month.
The 10-City Composite Index was up 5.5 percent compared to August 2013 and the 20-City gained 5.6 percent. Both composites had posted 6.7 percent increases from July 2013 to the same period in 2014. The National Index, which covers all nine U.S. Census divisions, had a 5.1 percent annual growth in August against 5.6 percent in July.