House prices slide in 19 of top 20 us markets

House prices eased in 19 of the top 20 US markets in July 2014, according to the latest S&P/Case-Shiller Home Price Indices.

19 of the 20 cities covered by the index saw lower annual returns in July. Las Vegas, Miami and San Francisco were the only cities to report double-digit annual gains.

In July, the 10-City and 20-City Composites increased 0.6 per cent and the National Index 0.5 per cent. Although all cities but one gained on a monthly basis, 17 saw smaller increases in July as compared to last month. Although New York saw a lower gain this month, it was the only city where prices rose over one percent. San Francisco posted its largest decline of 0.4 per cent since February 2012.

“While the year-over-year figures are trending downward, home prices are still rising month-to-month," says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, "although at a slower rate than what we are used to seeing over the past couple of years."

"The National Index rose 0.5 per cent, its seventh consecutive increase. At the bottom was San Francisco with its first decline this year and the only city in the red. New York tended to underperform over the past few years but it was on top for the last two months.”