World Economy

US Home Prices Rise

US Home Prices RiseUS Home Prices Rise

Finally, in the United States, home prices rose in July, underscoring the housing market’s strong performance in the first half of the year, even as more recent reports indicate that momentum has been mixed in recent weeks, Yahoo reported. The S&P/Case-Shiller Home Price Index, covering existing single-family homes across the US, rose 4.7% in the 12 months ended in July, exceeding June’s 4.5% increase. The index of 10 major cities gained 4.5% from a year earlier, roughly the same as in June. The report also said the 20-City Home Price Index was up by 5% year over year in July, reflecting a modest acceleration from the revised 4.9% growth seen in June.