US Home Prices Hit Record Highs in June

The S&P CoreLogic Case-Shiller Index reveals significant annual increases, with New York, San Diego, and Las Vegas leading the surge.

Home prices across the US rose 5.4% annually, reaching a new peak in June.
New York experienced the highest increase with a 9% rise in home prices.
San Diego and Las Vegas followed closely with annual increases of 8.7% and 8.5%, respectively.
Despite high prices, the Federal Reserve may cut mortgage rates soon, potentially boosting buyer interest.
Construction and sales volumes have slowed, but some improvement was seen in July.