New York led with an 8.8% annual gain, followed by Las Vegas at 8.2% and Los Angeles at 7.2%. Portland had the smallest increase at 0.8%, unchanged from June.
Month-Over-Month Growth Flat
Month-over-month, the U.S. National Index increased by only 0.1% before seasonal adjustment. Both the 10-City and 20-City Composites were flat. After seasonal adjustments, the national index rose 0.2%, while both composites saw a modest 0.3% increase. Eight of the 20 tracked cities recorded monthly price declines.
Low-Priced Homes Lead Gains
Homes in the lower price tiers continue to outperform. Tampa’s low-tier properties gained 88% over five years, while New York’s low-price segment drove an annual increase of 10.8%. However, high-price tiers in cities like San Francisco and Los Angeles are also performing well, benefiting wealthier homeowners but complicating entry for first-time buyers.
