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US home prices saw record leap in July from previous year

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WASHINGTON (AP) - U.S. home prices soared in July by a record amount from a year earlier as buyers desperate for homes bid up prices amid a limited supply.The S&P CoreLogic Case-Shiller 20-city home price index surged 19.9% in July compared with a year ago, the largest gain on records dating back to 2000.

In 17 of the 20 cities, prices rose more quickly in July than in June. And prices reached all-time highs in 19 of 20 cities.

The one exception was Chicago, where prices are just 0.3% below their 2006 peak.Sales of new and existing homes have jumped this year, driven by low mortgage rates and a desire for more living space during the pandemic.

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United States
United States
Cases: 46 252 513
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Recovered: 0
India
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Cases: 34 321 025
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Brazil
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Recovered: 0
Russia
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Deaths: 237 619
Recovered: 0
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