Rates rise to highest level since July 2020, will that lower home prices?

What homebuyers have been feeling for months was confirmed yet again in the latest S&P CoreLogic Case-Shiller National Home Price Index Report. July 2021 was the fourth-straight month to hit a record for home price growth with a 19.7% annual gain. June’s price growth rate was 18.7% higher year-over-year. The report shows that the Southwest and West portions of the United States showed the strongest growth with all regions recording double-digit price gains.

While that number is incredibly high, it’s important to remember that this index lags by at least two months.

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