Case-Shiller 20-city index shows July prices up 2.5%, above forecast

• The previous year-over-year reading came in at 2.1%.
• Month over month, prices rose 0.3%, compared to an expected 0.2%.
• The prior monthly increase was 0.2%.

Data from the FHFA show:

• Nationally, home prices increased 2.6% from a year ago, up from 2.3% previously.
• On a monthly basis, they rose 0.3%, after a 0.0% change in the preceding month.

Those who locked in mortgage rates in July will be glad they did, as rates have since climbed to cyclical highs. In a surprising contrast, the US housing market remains healthy even as home building and home improvement languish in a deep recession.