U.S. Home Prices Rose 4.8% Year-Over-Year in July

According to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, strong homebuyer demand in July, combined with historically low mortgage interest rates propelled home prices higher in major markets across the U.S. Nationally, home values rose 4.8% annually up from a 4.3% gain in June. The 10-City Composite annual increase revealed a 3.3% gain, up 2.8% from June. While the 20-City Composite rose 3.9% annually up from 3.5% in June.