U.S. home prices rose at a faster pace in July as the housing market continued to show strength during the coronavirus outbreak
The S&P CoreLogic Case-Shiller 20-city home price index, released Tuesday, rose 3.9% in July from a year earlier, up from a 3.5% annual gain in June. The July gain was slightly higher than economists had expected.
The 20-city index excluded prices from the Detroit metropolitan area index because of delays related to pandemic at the recording office in Wayne County, which includes Detroit.
Phoenix (up 9.2%), Seattle (7%) and Charlotte, North Carolina (6%), reported the biggest year-over-year