Alex Tripaldi News Today

The Case-Shiller Index, which measures U.S. home prices, saw record annual growth of 19.7% for July, the latest month for which the index is available. It marked the fourth consecutive month that annual growth in home prices set a new record.

Demand for housing has skyrocketed during the pandemic, but homebuilders and remodelers haven’t caught up because of labor shortages and long wait times for raw materials, tripling the timeline of some housing projects.