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.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.81%||3.85%|
|15 yr fixed||3.05%||3.07%|
|30 yr refi||3.79%||3.83%|
|15 yr refi||3.06%||3.06%|
Today's featured rates:
Uber CEO Travis Kalanick's parents were involved in a boating accident on Friday that left his mother dead. More
After growing up in poverty, Javier Galvan found stability by joining the U.S. Marine Corps. The experience helped him recognize his potential and put him on the path to med school. More
The Anita Borg Institute for Women and Technology confirmed that it has cut ties with Uber. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Betsy DeVos oversees a $1.3 trillion student debt program that touches 42 million Americans. Many borrowers complain about the servicing they receive. More