Home prices grew 1.0% year-over-year in July, up from a 0% annual change in June, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The 10-City Composite increased 0.9% in July after a 0.5% drop in June, and the 20 City Composite increased 0.1% after a 1.2% decline in June.
“U.S. home prices continued to rally in July,” stated Craig Lazzara, managing director at S&P. “The increase in prices that began in January has now erased the earlier decline, so that July represents a new all-time high for the National Composite.”
Chicago, Cleveland and New York recorded the highest year-over-year home price gains among the 20 cities, rising 4.4%, 4.0% and 3.8%, respectively.
Read Next
