For the first time in a year, home appreciation dipped under 6 percent nationwide, hitting 5.8 percent in August according to the S&P CoreLogic/Case-Shiller Index.
A local lens reveals a similar trend. For example, the Case-Shiller 10-city composite, which calculates average home prices across ten major metropolitan markets (Boston, Chicago, Denver, Las Vegas, Los Angeles, San Diego, San Francisco, New York, Miami, and Washington D.C.), showed price appreciation of 5.1 percent in August, down from 5.5 percent in July. The 20-city composite,
which adds another ten metros to the 10-city composite, showed appreciation of 5.5 percent in August, a decrease from 5.9 percent in July.