The index is calculated using recorded sales of nondistressed properties in the nation’s 100 largest metropolitan areas.
A rapid decline in foreclosures sales and new foreclosure filings have helped to reduce the impact of distressed property sales on overall home prices, FNC said.
Foreclosure sales accounted for 12.2% of total home sales, down from 17.3% in July 2012.
Denver had the largest price rise in July from June, 2.1%. Prices declined on a month-to-month basis in San Antonio and Dallas.
Year-over-year, Phoenix had the largest price rise, up 27.7%. Las Vegas was up nearly 20% and double-digit gains were seen in Sacramento and Denver.
But prices fell by 0.5% in Columbus and 0.8% in New York, FNC said.