Year-Over-Year Rise in U.S. Home Prices Is Slowing

Economy Home Sales
AP/Bill Sikes
By CHRISTOPHER S. RUGABER

WASHINGTON -- U.S. home prices rose in June by the smallest year-over-year amount in 20 months, slowed by modest sales and more properties coming on the market.

Data provider CoreLogic says prices rose 7.5 percent in June compared with 12 months earlier. That's a solid gain but less than the 8.3 percent year-over-year increase in May and a recent year-to-year peak of 11.9 percent in February.

On a month-to-month basis, June prices rose just 1 percent, down from 1.4 percent in May. But CoreLogic's monthly figures aren't adjusted for seasonal patterns, such as warmer spring weather.

The slowing price gains should make buying a house more affordable. Prices had risen sharply last year, along with mortgage rates. Many would-be buyers, particularly younger ones, were priced out of the market as a result.

Increase your money and finance knowledge from home

Economics 101

Intro to economics. But fun.

View Course »

Banking Services 101

Understand your bank's services, and how to get the most from them

View Course »

Add a Comment

*0 / 3000 Character Maximum

18 Comments

Filter by:
Iselin007

Think it's bad now wait until Interest rates go up then the only way they will sell is if they drop their prices even lower.

August 05 2014 at 9:57 PM Report abuse +1 rate up rate down Reply
Iselin007

The prices are to high for the new economy.

August 05 2014 at 9:52 PM Report abuse rate up rate down Reply
Cate

He's not black..he is bi-racial. He just doesn't admit it.

August 05 2014 at 3:58 PM Report abuse -3 rate up rate down Reply
Scottilla

Prices go up, and it's bad because nobody can afford a house.
Prices go down, andit's bad because people are losing money.

How can this be? I guess because he's black.

August 05 2014 at 2:21 PM Report abuse -4 rate up rate down Reply
1 reply to Scottilla's comment
Robert Smith

Because who's black ? The mortgage brokers, realtors ?

August 05 2014 at 2:36 PM Report abuse -2 rate up rate down Reply
1 reply to Robert Smith's comment
teabuster2

You're intellectually constipated

August 05 2014 at 4:50 PM Report abuse -1 rate up rate down
Iselin007

Picked a great time for the slowing of housing prices. Infact the prices should of went down before the great recession. They couldn't wait for the recovery before they tried fixing prices again.

August 05 2014 at 1:58 PM Report abuse -1 rate up rate down Reply
Iselin007

Make room on Mount Rushmore for Bozo!

August 05 2014 at 1:48 PM Report abuse -2 rate up rate down Reply
Iselin007

Like the song say's send in the clowns.

August 05 2014 at 1:42 PM Report abuse -3 rate up rate down Reply
Robert Smith

More results from Hope and Change.

August 05 2014 at 1:39 PM Report abuse +1 rate up rate down Reply
2 replies to Robert Smith's comment
Iselin007

Hope was gone long time go. Change that's something you get when they cash you jobs in at the trade deal's register.

August 05 2014 at 1:46 PM Report abuse -1 rate up rate down Reply
ktv813

You stupid ****, the real estate collapse happened in 2007.

August 05 2014 at 10:21 PM Report abuse rate up rate down Reply
1 reply to ktv813's comment
Robert Smith

Thank Dodd, Franks, Pelosi, Reid and Bush, Mr Flintstone. I know when the collapse was. Go ask Gazoo to help you get the rocks out out your head. Tell Mr. Slate that you need a raise so you can buy a nice foreclosure.

August 06 2014 at 3:07 AM Report abuse rate up rate down
Iselin007

Is this supposed to be a surprise? The realtors would of protested the trade deals if they knew this was going to be the future of housing markets. Flip some more houses you'll need the money, it will be a long time before you see good times again.

August 05 2014 at 1:33 PM Report abuse -2 rate up rate down Reply
Valerie

The "average" $250,000 house is not "affordable" for anyone, who earns less than a million bucks a year.

Nevertheless, the suckers keep lining up to buy --- and the builders and realtors keep inflating the housing market with rising prices.

Strange how most people have forgotten how the last housing bubble ended. As they are filling out their mortgage application forms, they are telling themselves: "This time, it will different". And they might be right about that. This time, it has the potential to be worse than before.

August 05 2014 at 12:25 PM Report abuse +2 rate up rate down Reply
2 replies to Valerie's comment
Iselin007

People were paying a lot more than $250,000 in NJ for for old housing just because the realtors fixed the markets. Mostly saturated low wage retail and restaurant jobs here unless your on a Visa because the tech companies import their workers.

Taxes are over $4,000 + for crap housing not to mention the sewer water bill ect.

August 05 2014 at 1:41 PM Report abuse -1 rate up rate down Reply
gfy.gfy

What?

August 06 2014 at 9:57 PM Report abuse rate up rate down Reply