(NBC) – After signs of cooling, housing markets appear to be re-heating.
Home price gains have been shrinking since March 2018 but the U.S. National Home Price Index rose 3.2% annually in July.
Prices are still cooling in the largest cities, however.
The hottest cities for home price appreciation were Phoenix, Las Vegas and Charlotte.
Home prices in Phoenix rose 5.8% year-over-year.
In Las Vegas, they were up 4.7%, and Charlotte saw a 4.6% increase.
Seven of the 20 cities in the 20-city composite reported greater price increases in the year ending July 2019 versus the year ending June 2019.