Record July jump in US home prices, sidelining more buyers

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — U.S. home prices soared in July from a year earlier by a record amount as buyers desperate for homes bid up prices amid a limited supply of available properties. The S&P CoreLogic Case-Shiller 20-city home price index surged 19.9% in July compared with a year ago, the largest gain on records dating back to 2000.