Home Price Gains Moderating

Home prices continued to rise in June, but at a slightly slower pace than in the past. The S&P/Case-Shiller 20-City Home Price Index rose 6.3 percent from June 2017 to June 2018.

This was slightly below the 6.4 percent expected and down from the 6.5 percent recorded in May.

Month over month, prices rose 0.1 percent from May to June. "We are seeing signs that growth is easing in the housing market ... 30-year fixed rate mortgages rose from 4 percent to 4.5 percent since January - and the rise in home prices are affecting housing affordability," said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.