Overview

• Case‑Shiller’s 10‑city composite slowed to 2.3% year over year and the 20‑city composite eased to 1.8%, both down from June.
• Seasonally adjusted national prices fell month over month for a second straight time during the typical peak buying season.
• Regional gaps widened as New York rose 6.4%, Chicago 6.2% and Cleveland 4.5%, while Tampa fell 2.8%, San Francisco 1.9% and Miami 1.3%.
• FHFA’s separate index showed prices down 0.1% in July from June but up 2.3% from a year earlier.
• Affordability constraints left many buyers on the sidelines, and a drop in August housing starts points to a thinning new‑construction pipeline.