CHART: Home price growth over next 12 months
NAR predicts modest growth
While home prices are still increasing, the pace has significantly slowed, hitting a 21-month low in July.
The National Association of Realtors projects home prices to increase over the next twelve months, with the median expected price increase at 3.4%.
The pace varies across the nation, but the reasons behind the slowdown remain the same: difficulty to obtain a mortgage and a weak job recovery.
This map from NAR shows just how much home prices are expected to grow over the next year.
(Source NAR, click for larger image)