The latest edition of the S&P CoreLogic Case-Shiller Home Price Index showed that home prices increased 19.7% from a year ago in July.
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Home prices continued to grow at a record pace in June, according to a leading barometer, with the largest price gains in Phoenix, San Diego and Seattle.
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Home-price growth climbed to a new record in May, as low mortgage interest rates continued to drive robust homebuying demand.
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Home price gains continue to accelerate, reflecting the significant imbalance between the supply and demand for housing across the U.S.
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The cost to purchase a home rose by a record amount, according to two major barometers of house prices in the U.S.
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In Phoenix, Ariz., home prices have skyrocketed nearly 16% over the past year — complicating attempts by house hunters to find a home amid rising interest rates.
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Home prices rose at the fastest pace in seven years, according to the latest data from the leading barometer.
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Rocketing home prices present challenges for home buyers as many states began reopening businesses from coronavirus-related shutdowns.
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The cost of buying a house rose sharply again in September, signaling that prospective buyers are unlikely to find better deals any time soon.
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The S&P CoreLogic Case-Shiller national home price index rose 5.7% over the past year.
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