Prices rose 3.2% in August, up from the 3.1% gain in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. Prices in the nation's 10 major cities rose 1.5%, down from the 1.6% gain in July and on the index's 20-city composite prices were 2% higher, unchanged from July's gain.
"A shift in regional leadership may be underway beneath the headline national index," said Philip Murphy, Managing Director and Global Head of Index Governance at S&P Dow Jones Indices. "Phoenix saw an increase in its YOY price change to 6.3% and retained its leading position."
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