FT details:
US house prices slipped in July in a sign that the residential real estate market continues to face challenging headwinds.
Prices in the biggest US cities fell by a seasonally adjusted 0.1 per cent from June to July, according to the S&P/Case-Shiller home price index. That was in line with Wall Street analysts’ predictions and left house prices up 3.2 per cent from the same month a year ago.
The figures show that home price growth on an annual basis is decelerating as the effects of government stimulus measures to support the market fade.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiNHB8taoKVKc1WynMv_RA0YVIE5dUtXp0N3SE5dt7tahuxNbVW6VzveDR6NnzwgQpXQE2JlFCH1RVwFWyVCqjoTwENRidLjLLm9EQ8_ZUpsGnfPZbb7SnmRN68yk6CbOf9B6vHy_oNhA/s800/case2.png)
Going forward, expect continued pressure on the index.
Case-Shiller’s index uses a three-month moving average, so the impact of the first-time homebuyer tax credit was still reflected in the data. Without seasonal adjustments, prices ticked up by 0.6 per cent from June to July.Source: S&P
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