US home prices climb 0.3% in July

In July, U.S. home prices increased by 0.3% despite pressures from rising mortgage rates, with the annual increase reaching 2.6%. This occurs even amid weak demand and increased housing supply. The average 30-year mortgage rate hit 7.03%, the highest since January 2025, further raising the cost of purchasing homes—especially for younger buyers. The data indicates that price growth continues despite declining demand, with performance varying across regions. The Mid-Atlantic area experienced the largest monthly increase of 1.5%, and prices have risen annually in all nine regions.

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