Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

Home prices sag in August

By Les Christie, staff writer


NEW YORK (CNNMoney.com) -- Housing markets remained sluggish in August.

Home prices fell 0.2% from July after five consecutive months of gains, according to the S&P/Case-Shiller composite index of 20 metro areas. However, prices rose a modest 1.7% compared with a year earlier, the housing group reported Tuesday.

It was, said David Blitzer, spokesman, "a disappointing report ... indicating that the housing market continues to bounce along the recent lows."

The year-over-year rise fell short of expert expectations as put together by Briefing.com, who predicted a 2% year-over-year rise.

One city that bucked the trend was Las Vegas, where prices inched up 0.1% month-over-month. However, it continued to be the worst performer compared to last year, with prices down 4.5%. Prices in Sin City are down 57% from their peak, which was reached in August, 2006.

Detroit scored the best monthly gain, up 0.5%; San Francisco was up 7.8% year-over-year, the most of any city.

Dallas had the worst month of any of the 20 metro areas: Prices fell 1.1% there. To top of page


Overnight Avg Rate Latest Change Last Week
30 yr fixed4.09%4.03%
15 yr fixed3.25%3.18%
5/1 ARM3.42%3.29%
30 yr refi4.12%4.07%
15 yr refi3.29%3.19%
Rate data provided
by Bankrate.com
View rates in your area
 
Find personalized rates:
  • Find Homes for sale
    Real estate and homes for sale on Trulia

  • Property Type
  • Find a home in: New York | Atlanta | Chicago | Los Angeles
  • Washington D.C | Houston | Philadelphia | More options
Index Last Change % Change
Dow 19,827.25 94.85 0.48%
Nasdaq 5,555.33 15.25 0.28%
S&P 500 2,271.31 7.62 0.34%
Treasuries 2.47 0.01 0.33%
Data as of 1:51am ET
Company Price Change % Change
Bank of America Corp... 22.64 0.11 0.49%
General Electric Co 30.53 -0.68 -2.18%
Bristol-Myers Squibb... 49.23 -6.26 -11.28%
CSX Corp 44.33 -1.18 -2.59%
Chesapeake Energy Co... 6.69 0.07 1.06%
Data as of Jan 20

Sections

Shares of several uranium miners are soaring this year on hopes that Donald Trump will commit more investments to nuclear power. But investors need to get careful. The stocks are as volatile as radioactive elements. More

President Trump promised to 'buy American and hire American.' He says his policies will create 25 million new jobs, the most of any U.S. president in history. CNNMoney lays out just how hard that will be. More

Apple is suing Qualcomm for allegedly charging 'excessive royalties' and withholding payments in retaliation for Apple cooperating with a regulatory investigation into the chip supplier. More

If you're smart about when you first claim Social Security, you can increase your benefits and reap the rewards for the rest of your life. More