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U.S. Home Prices Dip in June as Widespread Gains Continue to Ease

Increases in U.S. home prices are experiencing a widespread slowdown, according to the S&P Case-Shiller composite index of 20 metropolitan cities. The index fell 0.2% in June on a seasonally-adjusted basis, versus economists expectations of a flat reading, according to Thomson Reuters. Non-seasonally adjusted prices rose 1% in the 20 areas, in line with expectations. David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices notes that home price gains continue to ease as they have since last fall -- and that for the first time since February 2008, all cities showed lower annual rates than the previous month.