In June, the housing market demonstrated remarkable resilience despite the challenges posed by low supply and elevated mortgage rates. The S&P CoreLogic Case-Shiller home price index, after seasonal adjustments, registered a noteworthy 0.7% month-over-month increase. This marks the fifth consecutive monthly upswing in prices. Additionally, both the 10-City and 20-City composites saw encouraging growth with increases of 0.9%.
When compared to June of the previous year, the home price index remained relatively stable, showing a marginal change from the preceding month's decrease of -0.5%.
Craig Lazzara, the managing director at S&P DJI, noted, "U.S. home prices maintained their upward trajectory in June 2023." He further elaborated that the National…
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