Key Points:
Home prices rose modestly in July according to the monthly FHFA Purchase-Only Index, which increased at a 1.6% seasonally adjusted annual rate (SAAR).
- While the pace of home price appreciation has generally slowed over the past year, home prices are up 4.5% from last July.
FHFA Purchase Index (July 2023 - July 2024)
The pace of new single-family home sales fell in July, though new sales are around 10% higher year-over-year.
- The number of single-family units under construction declined for the fifthconsecutive month as completions continue to outpace starts.
New Single Family Home Trends
