Home Prices Reach An All-Time High

According to the S&P CoreLogic Case-Shiller National Home Price Index, home prices have once again hit an all-time high, increasing by 0.2% in the month of June. This marks the fifth straight month where prices have surged.

Additionally, the annual rate of increase in home prices has reached 5.4%, a very considerable percentage which has implications on nearly all types of properties, from housing to commercial.

Despite this, these prices are falling below inflation growth, indicating signs of slowing house prices.

Despite housing prices beginning to stagnate, it has remained a key issue in the upcoming presidential election in the U.S. Kamala Harris has advocated expanding federal funding toward building up to 3 million new homes to bring prices down. Meanwhile, Donald Trump has called for tax cuts and deregulation to decrease the burden of the government on homeowners and small businesses, some of which are contributing to the real estate industry.

Nevertheless, costs remain high on households for millions of Americans, as most can't even purchase a home and rely on either long-term mortgages or renting to live suitably. Furthermore, in many major cities across the nation, housing prices have surged far more than what the national average suggests. New York's prices grew by 9% this year, San Diego by 8.7, and so much more.