US Home Prices Rise More Than Expected in July as Case-Shiller Accelerates 2.5%

U.S. home prices expanded faster than anticipated in July, highlighting resilience in residential real estate despite elevated mortgage costs. The S&P CoreLogic Case-Shiller 20-city home price index rose 2.5% year-over-year, beating market forecasts of 2.1% to 2.2% and accelerating from the upwardly revised 2.1% to 2.2% pace in June. On a seasonally adjusted month-over-month basis, the 20-city composite gained 0.3%, topping the 0.2% consensus and matching June's revised 0.3% rise. Separately, the FHFA national house price index gained 2.6% year-over-year and 0.3% on the month.