US House Prices Soared by Most on Record in June

Home prices across the US skyrocketed to yet another record in June, as buyers continued to compete for a shrinking inventory of properties.

The S&P CoreLogic Case-Shiller national home price index broke yet another record in June, soaring by 18.6% from one year ago, marking the third consecutive month of record-breaking gains and sharpest jump in home price inflation on data going back to 1988.

America’s real estate market has been booming since the beginning of the pandemic, as work-from-home flexibility prompted a surge in demand for more spacious housing outside of major urban regions. That, and historically low mortgage rates, coupled with short housing supply and subsequent soaring lumber and material costs, have forced housing prices to repeatedly reach record-high levels throughout the past year.

Policymakers have taken notice of the trend, and some have pointed to Federal Reserve Chair Jerome Powell’s mortgage-backed security purchases as the reason behind the rally pushing the cost of housing to skyrocketing levels. Moreover, to make the situation even more financially burdensome for Americans, the proportion of properties at lower price points have significantly decreased, as they were quickly bought up by investors and converted into rental homes.


Information for this briefing was found via S&P Global. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

2026 Could Be Gold’s Biggest Year Yet!? | Ryan King – Equinox Gold

Gold Is Screaming Higher While Currencies Burn | Simon Ridgway – Rackla Metals

We Have the Highest-Grade Antimony Deposit in North America!? | Jim Atkinson -Antimony Resources

Recommended

Canadian Copper Secures $8 Million Lead Order From Ocean Partners As Part Of Larger Funding Round

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Related News

US Home Prices Decelerate in November

US home prices continued their upward trend to finish off 2021, albeit at a slower...

Sunday, January 30, 2022, 03:43:00 PM

Major Investments in Housing is the Only Way to Alleviate Canada’s Worsening Housing Crisis

Canada is confronting an escalating housing crisis. It’s not just statistics; the evidence is overwhelming—...

Wednesday, August 16, 2023, 06:13:00 AM

It’s A Coronavirus Economy, We’re All Just Planning In It

It’s been a few hours now since Canada’s Federal government announced a plan for $82...

Thursday, March 19, 2020, 09:00:29 AM

Canadian E-Commerce Boom Expected to Fuel Demand for Additional Warehouse Space

The recent surge in e-commerce retail sales amid the pandemic has sparked an increase in...

Sunday, February 28, 2021, 11:14:00 AM

Canada’s Housing Market Not Cooling Off Anytime Soon As Inventories Remain Historically Low

Canada’s real estate market is far from cooling off, with inventory of homes sitting at...

Tuesday, January 18, 2022, 02:42:00 PM