U.S. home prices inched up 0.2%, on average, in July compared to June; however, seven of the 20 largest cities in the U.S. saw prices decline, according to Black Knight's Home Price Index report.
The average price of a home, nationally, in July was $241,000, according to the report. That's up 5.1% from July 2013 but down 10.2% from the peak in June 2006.
States that saw the biggest increases in home prices in July included Michigan (0.9%), Ohio (0.6%), Idaho (0.6%), South Carolina (0.6%) and Montana (0.6%).
States that saw the biggest declines in home prices included Massachusetts (-0.5%), Vermont (-0.4%), Hawaii (-0.3%), Pennsylvania (-0.3%) and Arizona (-0.3%).
Cities that saw the biggest gains in home prices in July included Detroit (1.1%); Myrtle Beach, S.C. (1.1%); Greeley, Colo. (1.0%); Bend, Ore. (0.9%); and Akron, Ohio (0.8%).
Cities that saw the biggest declines in home prices included Ocean City, N.J. (-1.1%); Torrington, Conn. (-0.8%); Barnstable, Mass. (-0.6%); Allentown, Pa. (-0.6%); Boston (-0.5%).
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