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)