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US home prices rose at slower pace in July

By Christopher Rugaber
Published September 2, 2014 2:53pm ET
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US home prices rose at slower pace in July
FILE - This June 19, 2014, file photo, shows a home for sale in Wilmington, N.C. Real estate data provider CoreLogic reports on U.S. home prices in July. In June, prices rose by the smallest year-over-year amount in 20 months, slowed by modest sales and more properties coming on the market. The slowing increases should make homes more affordable after prices had risen sharply last year. At the same time, Americans' pay hasn't risen nearly as fast. (AP Photo/Wilmington Star-News, Ken Blevins, File) | Ken Blevins

WASHINGTON (AP) — U.S. home prices rose in July but at a slower rate compared with earlier this year. The moderating price increases could help support sales.

Real estate data provider CoreLogic said Tuesday that prices rose 7.4 percent in July from July 2013. That was slightly below June’s year-over-year increase of 7.5 percent and far below a recent peak of 11.9 percent in February.

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