Home prices hit another record high in June
Home prices continued to climb in June. The S&P CoreLogic Case-Shiller national home price index rose 5.4% annually to a reading of 325.23 in June, according to data released Tuesday.
While prices continue to climb on a year-over-year basis, June’s figure was down from 5.9% growth in May. June’s annualized increase is the lowest rate of home price appreciation since November 2023.
“It is still remarkable given the fact that home prices are at record highs and, in June, mortgage rates were still around 7%,” Bright MLS chief economist Lisa Sturtevant said in a statement. “Mortgage rates have fallen since June, but there is evidence that even the decline in rates has not been enough to bring buyers back into the market. Some buyers are waiting for home prices — and not just interest rates — to come down.”
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