US single-family home prices climb 0.3% in July, FHFA reports

US single-family home prices rose 0.3% in July, according to the Federal Housing Finance Agency, marking a 2.6% gain over the 12 months through July and a 2.3% gain over the 12 months through June.

The rise was seen in seven of the nine census regions, with the Middle Atlantic leading at 1.5%, followed by the Pacific at 0.6% and the West North Central and East North Central at 0.4%. The Mountain region fell 0.8% and the East South Central eased 0.5%.

On a year‑over‑year basis, all nine regions saw gains, with the Middle Atlantic up 6.3% and the East North Central up 4.5%. The average 30‑year fixed‑rate mortgage rate averaged 7.03% last week, the highest level since January 2025, and the price gains are part of the affordability debate heading into the November 3 midterm elections.

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