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US Home Prices Climb Further With 86% Of Mortgages Still Handcuffed
US home prices are still rising. "Breaking news," I know. If you don't own one yet -- a home, I mean -- I don't know what to tell you other than "I'm sorry."
Data out Tuesday showed the nation's marquee price gauge rose a 12th month measured against the same period a year ago.
The S&P Case-Shiller 20-city index posted a 6.5% advance for June, according to the release, slightly slower than the prior month's YoY gain, but brisker than the 6.1% increase economists collectively expected.
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Any adjustment will take time.