Data through August 2010, released today by Standard & Poor’s for its S&P/Case-Shiller1 Home Price Indices, the leading measure of U.S. home prices, show a deceleration in the annual growth rates in 17 of the 20 MSAs and the 10- and 20-City Composites in August compared to what was reported for July 2010. The 10-City Composite was up 2.6% and the 20-City Composite was up 1.7% from their levels in August 2009. Home prices decreased in 15 of the 20 MSAs and both Composites in August from their July levels.

In August, 12 of the 20 composite MSAs posted negative annual growth rates. This was two more than previously posted in July, as both Miami and Detroit  broke their positive trend of consecutive posted gains by posting negative annual rates for August.

See the S&P/ Case-Shiller press release here: S&P[Oct.]