Reported 14 days ago
Home prices in the US reached their highest level ever in July, with the S&P Case-Shiller National Home Price Index experiencing a 0.2% increase from June, marking six consecutive monthly gains. Despite a downward trend in mortgage rates, affordability remains a significant challenge for buyers, as prices increased 5% year-over-year, with certain metropolitan areas like New York seeing even higher gains. However, sales activity remains subdued, as both buyers and sellers are hesitant amidst high prices and limited inventory.
Source: YAHOO