US house prices rise less than expected in July
US house prices rose less than expected in July, data released on Tuesday showed.
The S&P/Case-Shiller 20-city composite index rose from 180.74 in June to 181.90 in July, slightly below the 182.64 reading analysts had expected.
Portland, San Diego and other markets in the west of the US led the increase, although prices slid 0.2% when considering seasonal adjustments.
However, over the last 12 months, prices have risen 5%, driven higher by strong growth in San Francisco and Denver, where prices have surged 10.4% and 10.3% respectively.
Of the 20 cities surveyed, 14 reported greater price increases in the 12 months to the end of July, while house prices rose in every single city.