Last week’s economic news included readings on home prices from Case-Shiller; readings on construction spending and pending home sales were also released. Weekly data on mortgage rates and jobless claims were also released. Case-Shiller Posts New Record for Home Price Growth in June U.S. home prices continued to gain at record levels in June according to S&P Case-Shiller Home Price Indices. The National  Home Price Index rose from May’s seasonally adjusted annual reading of 16.80 percent growth to 18.60 percent year-over-year home price growth in June. Case-Shiller’s 20-City Home Price Index reported no change in the top three cities for…

Last week’s economic reports included readings on new and existing home sales; the University of Michigan released its monthly Consumer Sentiment Index, and weekly updates on mortgage rates and jobless claims were also published. New Home Sales and Median Home Price Rose in July The Census Bureau reported that new homes sold at a seasonally-adjusted annual pace of 353,000 sales in July; analysts expected a pace of 350,000 new homes sold based on June’s reading of 349,000 sales of new homes. Homebuyers are buying new and existing homes at a faster pace as more homes and wider choices become available…