July Home Prices Rose, but Real Values Fell for 14th Month
The July index posted gains across its broad measures, even as inflation-adjusted home prices fell for a 14th straight month.
Case-Shiller home prices rose 1.9% in July, while its 20-city survey gained 2.5% and its 10-city measure rose 3.4%. The report also marked a 14th consecutive decline in real home prices, which account for inflation.
Chicago led the cities for a fifth straight month, with home values up 6.9%. New York City followed at 5.8%, while Cleveland recorded a 4.2% gain.
Seattle had the weakest result, with prices down 1.6%. Las Vegas fell 1.3% and Denver declined 1.1%, according to the survey.
The figures show rising home prices in the survey’s broad measures alongside continued declines after adjusting for inflation. City-level results varied, with Chicago’s increase outpacing the other reported gains and three cities recording declines.
This article was produced with the help of AI technology.
Source: Yahoo Finance
