1 / 5
Why US home prices aren't falling despite a sluggish market
US home prices rose 0.27% month-over-month in July and 3.4% year-over-year, showing resilience despite high mortgage rates around 6%. The market is leveling off, with supply exceeding demand but not enough to lower prices broadly. Wealthy buyers are sustaining price growth, especially in luxury markets like San Francisco and West Palm Beach. Texas cities saw price declines due to excess supply and increased buyer leverage.