Aug. 28 (UPI) -- U.S. single-family home prices are still rising, but more slowly, new figures showed Tuesday.
According to the S&P/Case-Shiller Indices, home prices rose at an annualized rate of 6.2 percent in June -- down from 6.4 percent in May.
Prices in the 10 largest U.S. markets rose 6 percent and those in the 20 largest 6.3 percent, Case-Shiller's figures showed.
Las Vegas saw the largest increase in the top 20, followed by Seattle and San Francisco.
While home price gains were strongest in the West, it is also where the fewest available homes are located.
Prices are not declining, but price growth is, the report indicates. The gain in the top 20 markets statistics is still twice that of inflation and wage improvements, but a step in the right direction to bring affordable housing to more buyers.
"Even as home prices keep climbing, we are seeing signs that growth is easing in the housing market," David Blitzer of S&P Dow Jones Indices said in a statement. "Sales of both new and existing homes are roughly flat over the last six months amidst news stories of an increase in the number of homes for sale in some markets."
The number of homes for sale in June was unchanged over the previous year, the first time in several years supply did not fall.