The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 1.0% in the year that ended in July after a series of declines and a 0% reading in June.
The 20-City Composite posted an increase of 0.1%, improving from a loss of -1.2% in the previous month.
The 10-City Composite posted an increase of 0.9%, which improves from a -0.5% loss in the previous month.
Chicago, Cleveland, and New York led the way for the third consecutive month reporting the highest year-over-year gains among the 20 cities in July.
Chicago reported the highest gains among the 20 cities in July with a 4.4% year-over-year price increase, followed by Cleveland with a 4.0% increase, and New York with an 3.8% increase.
Eight of 20 cities reported lower prices and 12 reported higher prices in the year ending July 2023 versus the year ending June 2023.
The Right Facts will continue to monitor home prices.