US house price growth slows in July
US house price growth slowed in July, according to the S&P/Case-Shiller National Home Price Index out on Tuesday.
The 20-city index rose 2% year-on-year, down from revised 2.2% growth in June and missing expectations for a 2.2% increase.
Phoenix, Las Vegas and Charlotte reported the highest year-over-year gains among the 20 cities. Phoenix led the way with a 5.8% jump, followed by Las Vegas with a 4.7% increase and Charlotte with a 4.6% rise.
Seven of the 20 cities reported greater price increases in the year ending July 2019 versus the year ending June.
Meanwhile, the national home price NSA index covering all nine US census divisions was up 3.2% on an annual basis in July, unchanged from the previous month.