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||4.19%||4.27%|
|15 yr fixed||3.27%||3.27%|
|30 yr refi||4.17%||4.23%|
|15 yr refi||3.25%||3.25%|
Today's featured rates:
After serving 8 years in prison, Marcus Bullock is helping the incarcerated stay connected with loved ones with his Flikshop app. More
Terrell White has had a profit-sharing plan for his employees since 1981, believing that if the staff isn't happy, guests won't be either. More
The Mason family, which has been struggling to pay the $100,000 student loan bill they were left with when their daughter passed away five years ago, is now seeing an outpouring of support. More