Business

US home prices rise at slowest pace in 20 months

By Christopher Rugaber
Published September 30, 2014 1:58pm ET
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US home prices rise at slowest pace in 20 months
In this Sept. 24, 2014 photo, developer Michael Capponi, left, talks with real estate broker Massimo Nicastro, right, of South Beach Estates, at a waterfront property he renovated, during a viewing for brokers, in Miami Beach, Fla. Standard & Poor's releases S&P/Case-Shiller index of home prices for July on Tuesday, Sept. 30, 2014. (AP Photo/Lynne Sladky) | Lynne Sladky

WASHINGTON (AP) — U.S. home prices in July increased at the slowest pace in 20 months, reflecting sluggish sales and a greater supply of houses for sale.

The Standard & Poor’s/Case-Shiller 20-city home price index rose 6.7 percent in July from 12 months earlier. That’s down from an 8.1 percent gain in June and the smallest increase since November 2012.

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