June 2015 figures for the Case-Shiller Home Price Index were released last week, showing single family home prices in New York rose just 0.1% in the second quarter (Q2) of the year. This is down from an increase of 1.7% in the first quarter (Q1), according to revised figures. The national 20-city index fell by -0.2%, having increased 2.9% during the first quarter.

There was an overall trend towards slower growth between Q1 and Q2, with some cities even experiencing price depreciation. After all markets appreciated in Q1, 11 markets depreciated in Q2 (Chicago and San Francisco experienced the strongest declines in home values), and another 8 markets appreciated at a lower rate in Q2 than in Q1. Only in Las Vegas did prices increase faster in the second quarter.

On a yearly basis, however, home prices continued to increase nationwide with Denver (10.2%), San Francisco (9.5%) and Dallas (8.2%) leading the charge. Cleveland (2.9%), New York (2.8%), Washington, DC (1.6%) and Chicago (1.3%), experienced the lowest increases, and the 20-city index increased 5%.

As of the end of the second quarter, 4 cities had home prices within one percentage point of the 20-city composite index: Boston, New York, Portland and Seattle; 11 cities had lower prices and 5 had higher prices.

All figures are seasonally adjusted.