Business

US house price growth slows in June

Quincy Massachusetts Image copyright AP
Image caption Prices have fallen in the US since the autumn of 2013

The annual pace of US house price growth slowed in June, a survey has indicated, continuing a long-term deceleration in the US housing market.

The S&P/Case Shiller 20-city index saw an 8.1% year-on-year price increase in June, compared with a 9.4% rise in May.

Prices in Las Vegas, Phoenix, Miami and Tampa are still about a third below their housing bubble peaks of almost a decade ago.

The deceleration pointed to a "more normal sector", the company said.

"Home price gains continue to ease as they have since last fall [autumn]," said David M Blitzer, chairman of the index committee at S&P Dow Jones Indices.

"For the first time since February 2008, all cities showed lower annual rates than the previous month," he said.

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