Prices of homes in twenty US cities grew in June with the slowest pace in almost two years, Bloomberg reports with the reference to S&P CoreLogic Case-Shiller. Demand is falling amid low affordability and higher mortgage rates.

Index for 20 cities grew by 0,1% after rising by 0,2% in the previous month, and this is the lowest increase since July 2016. Annual index of property values showed 6,3% gain in 20 cities, the lowest since December last year. Price increase nationally was 6,2% a year.

This data confirms recent signs of residential real estate market cooling. National Association of Realtors notes decline in purchases of second-owned homes to the lowest level in two years amid restricted supply and growing prices. Governmental data confirms that the same tendency exists for new houses.

The highest price growth is observed in Las Vegas (13% a year) together with increase in population and employment in this city of Nevada. Seattle is the next showing 12,8% rise. It is followed by San Francisco with 10,7% increase. New York is the only large city that showed price decline compared with the previous month.