US Home Prices Are Rising At Their Fastest Pace In Over A Year, But...
Amid soaring mortgage rates, new home prices falling rapidly, and collapsing homebuilder confidence, US home prices in America's 20 largest cities rose for the fourth straight month in July (according to the latest - admittedly lagged - data from S&P Cotality Case-Shiller).
The 20-City Composite index rose 0.32% MoM (far stronger than the 0.2% MoM rise expected) in July. That is the strongest monthly rise since Dec 2025 and lifted the annual home price appreciation to its fastest pace since May 2025...
This was "a notable departure from typical seasonal patterns,' said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices.
For the fifth consecutive month, Chicago led all metros with a 6.9% annual gain in July, but New York and Miami both saw large jumps. Meanwhile, Seattle posted the largest annual decline for the second consecutive month, falling 1.6%, followed by Las Vegas (-1.3%) and Denver (-1.1%)
“The years-long East-West divide persists, with six out of the eight Eastern metropolitan markets recording greater year-over-year changes in July versus June, compared with just two of the eight Western metropolitan markets," noted Kaufman.
However, given the lagged and smoothed nature of Case-Shiller's data, the party may just be about to collapse into the hangover...
And finally, while slightly lower inflation and stronger nominal home price appreciation helped narrow the gap, Kaufman notes that "home prices continued to decline in real terms in July 2026, marking the 14th consecutive month of real declines."
Tyler Durden Tue, 09/29/2026 - 09:23
Continue reading...
[ H/T ZeroHedge ]
Amid soaring mortgage rates, new home prices falling rapidly, and collapsing homebuilder confidence, US home prices in America's 20 largest cities rose for the fourth straight month in July (according to the latest - admittedly lagged - data from S&P Cotality Case-Shiller).
The 20-City Composite index rose 0.32% MoM (far stronger than the 0.2% MoM rise expected) in July. That is the strongest monthly rise since Dec 2025 and lifted the annual home price appreciation to its fastest pace since May 2025...
This was "a notable departure from typical seasonal patterns,' said Rebecca Kaufman, Associate Director of Commodities at S&P Dow Jones Indices.
For the fifth consecutive month, Chicago led all metros with a 6.9% annual gain in July, but New York and Miami both saw large jumps. Meanwhile, Seattle posted the largest annual decline for the second consecutive month, falling 1.6%, followed by Las Vegas (-1.3%) and Denver (-1.1%)
“The years-long East-West divide persists, with six out of the eight Eastern metropolitan markets recording greater year-over-year changes in July versus June, compared with just two of the eight Western metropolitan markets," noted Kaufman.
However, given the lagged and smoothed nature of Case-Shiller's data, the party may just be about to collapse into the hangover...
And finally, while slightly lower inflation and stronger nominal home price appreciation helped narrow the gap, Kaufman notes that "home prices continued to decline in real terms in July 2026, marking the 14th consecutive month of real declines."
Tyler Durden Tue, 09/29/2026 - 09:23
Continue reading...
[ H/T ZeroHedge ]
