Washington: The rise in US home prices decelerated in August but was still up 5.6 percent year-on-year, the S&P/Case-Shiller index showed Tuesday.
The 20-city price index rose 0.2 percent from July to August, with the biggest drag coming from the West Coast market.
Prices in San Francisco were off 0.4 percent in the month, in San Diego down 0.1 percent, and flat in Seattle and Los Angeles.
Monthly gains were strongest in the heavily depressed Detroit, Michigan market, as the city begins efforts to pull out of bankruptcy.
Analysts said the slowdown in price gains represents more a normalization of the market after the rebound from the 2008-2009 recession, and that buying remains fairly steady.
"Despite softer price data, other housing data perked up. September figures for housing starts, permits and sales of existing homes were all up," said David Blitzer, chairman of the Index Committee at S&P Dow Jones Indices.
"Continued labor market gains, low interest rates and slower increases in home prices should support further improvements in housing."
