AP Photo/David Zalubowski

U.S. home prices rose at their slowest pace in nearly two years as the national housing hot streak cooled off.

The S&P CoreLogic Case-Shiller home price index shows national home prices climbed at a rate of 5.5 percent in the year that ended in September. That's the slowest increase since January 2017.

The trend follows the Portland area's lead. Home prices grew 5.1 percent year-over-year, the slowest growth in six years.

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The slowdown comes amid an increase in mortgage rates. The average fixed rate for a 30-year mortgage has climbed nearly a full percentage point over the past year to 4.81 percent last week, the highest since 2011.

That's taken a bite out of home-shoppers' buying power, leaving them unable to stretch as far on price. And rising home prices in recent years has outpaced growth in wages, putting more homes out of reach for more people.

Home sales have slowed as a result, as has construction of new houses.

The biggest annual increases in home prices were seen in Las Vegas (13.5 percent), San Francisco (9.9 percent) and Seattle (8.4 percent.) Portland fell in the bottom half of the 20 cities included in the index, at No. 13.

The median home price in the Portland metro was $392,500 in September, according to the Regional Multiple Listing Service. It climbed to $395,000 in October.

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20 U.S. cities ranked by year-over-year home price increase:

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Saul Loeb/AFP/Getty Images

Las Vegas

▲ 13.5 percent year over year

▲ 0.6 percent in September

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AP Photo/Eric Risberg

San Francisco

▲ 9.9 percent year over year

— 0 percent in September

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Daniel Schwen [CC BY-SA 4.0], from Wikimedia Commons

Seattle

▲ 8.4 percent year over year

▼ 1.3 percent in September

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Kevork Djansezian/Getty Images

Denver

▲ 7.3 percent year over year

▼ 0.1 percent in September

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Wikimedia Commons

Phoenix

▲ 7.2 percent year over year

▲ 0.8 percent in September

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AP Photo/Chris O'Meara

Tampa, Florida

▲ 6.7 percent year over year

▲ 0.6 percent in September

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AP Photo/Carlos Osorio

Detroit

▲ 6.3 percent year over year

▲ 0.1 percent in September

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Karen Bleier/AFP/Getty Images

Minneapolis

▲ 6 percent year over year

▼ 0.1 percent in September

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"atlanta skyline" by William Brawley is licensed under CC BY 2.0

Atlanta

▲ 5.7 percent year over year

▲ 0.2 percent in September

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Frederic J. Brown/AFP/Getty Images

Los Angeles

▲ 5.5 percent year over year

▼ 0.2 percent in September

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AP Photo/Chuck Burton

Charlotte, North Carolina

▲ 5.2 percent year over year

▲ 0.2 percent in September

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AP Photo/Mark Duncan

Cleveland

▲ 5.2 percent year over year

▲ 0.3 percent in September

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Stephanie Yao Long/Staff

Portland

▲ 5.1 percent year over year

▼ 0.1 percent in September

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AP Photo/Michael Dwyer

Boston

▲ 5 percent year over year

— 0 percent in September

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AP Photo/Lynne Sladky

Miami

▲ 4.6 percent year over year

▲ 0.2 percent in September

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"Downtown Dallas skyline" by Bonita de Boer is licensed under CC BY 2.0

Dallas

▲ 4.3 percent year over year

— 0 percent in September

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Donald Miralle/Getty Images

San Diego

▲ 4.0 percent year over year

▼ 0.3 percent in September

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Scott Olson/Getty Images

Chicago

▲ 3.0 percent year over year

▼ 0.1 percent in September

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David Gannon/AFP/Getty Images

Washington, D.C.

▲ 2.9 percent year over year

▼ 0.2 percent in September

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Mario Tama/Getty Images

New York

▲ 2.6 percent year over year

▲ 0.2 percent in September

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-- Elliot Njus

enjus@oregonian.com; 503-294-5034; @enjus