US Home Prices Rise In July

CoreLogic released their home price index for July today and it showed another 1.25% month-over-month gain in June (including distressed sales). Their index is 7.4% higher than one year ago. If you exclude distressed sales, house prices still rose by 1.07% in July and are 6.76% higher year-over-year. The more closely watched Case-Shiller Home Price Index won't release their July pricing data for another four weeks. However, given how closely CoreLogic and Case-Shiller move together, we would expect at least another 1% gain for July when the Case-Shiller HPI is released on Tuesday, September 30th.