US Home Prices Reach Record High Despite Rising Mortgage Rates

S&P Case-Shiller Index shows a 5.4% annual increase in June, with significant regional disparities.

Home prices rose 5.4% nationally in June compared to the previous year, according to the S&P CoreLogic Case-Shiller Index.
The 10-city composite saw a 7.4% annual increase, while the 20-city composite rose by 6.5%.
New York experienced the highest annual gain among major cities at 9%, followed by San Diego and Las Vegas.
Portland, Oregon, had the smallest annual increase at 0.8%.
Higher mortgage rates have led to increased housing supply, yet prices continue to climb.