Home prices in 20 U.S. cities rose in the year ended in July at the slowest pace in almost two years as still-tight credit and limited wage gains weigh on demand.

The S&P/Case-Shiller index of property values increased 6.7 percent from July 2013, the smallest 12-month gain since November 2012, a report from the group showed Tuesday in New York. Nationally, prices rose 5.6 percent after a 6.3 percent gain in the year ended June.