Single-family house prices rose 5% in July from a year earlier, according to the Federal Housing Finance Agency. It was the second-smallest annual gain in more than four years, following June's 4.9% pace.
The FHFA's House Price Index is calculated using data from mortgages backed by Fannie Mae and Freddie Mac. Because of this, it excludes high-end homes bought with jumbo loans or cash sales.
The 12-month price changes were all positive in the nation's nine Census divisions, with the Middle Atlantic posting the smallest gain of 3.6%, and the Mountain region leading the way with a 7.6% increase.
Measured from a month earlier, the Mountain division saw the strongest growth, increasing 1.2%. The Middle Atlantic Division has the smallest gain, at 0.1%.
These are the states located in each division mentioned:
Mountain: Montana, Idaho, Wyoming, Nevada, Utah, Colorado, Arizona, New Mexico
Middle Atlantic Division: New York, New Jersey, Pennsylvania
The chart below compares 12-month price changes to the prior year: