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Home Prices Rise But Real Value Still Falls | Real Estate News
Home prices edged up 1.5% in June, marking the fourth straight month of acceleration—with Chicago and New York leading the charge—while Seattle and Las Vegas saw declines. Despite this uptick, overall home values have fallen for 13 months; inflation, though cooling to 3.5%, still outpaces price growth, meaning homes are losing real value—but more slowly. The rebound follows a shaky spring disrupted by global events that spiked inflation, with mortgage rates hovering around 6.5% during April–June. The big unknown? The Fed’s September 16 meeting: while odds favor holding rates steady, a…
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