This is the fourth consecutive monthly record growth year-on-year. The index of the twenty largest urban areas advanced 19.9 percent in July.
Phoenix, San Diego and Seattle reported the highest annual growth among 20 cities in July. Phoenix led the way with a 32.4% price increase over the previous year, followed by San Diego with a 27.8% increase and Seattle with a 25.5% increase. Seventeen of the twenty cities reported price increases in the year ending July 2021 compared to the year ending June 2021.
Prior to the seasonal adjustment, the U.S. National Index rose 1.6% in July from the same month, while the 10-City and 20-City Composite Indices rose 1.3% and 1.5%, respectively.
After seasonal adjustment, the U.S. National Index recorded a 1.5% increase over the month, and 10-City and 20-City Composites both recorded an increase of 1.4% and 1.5%, respectively. In July, all 20 cities reported an increase before and after seasonal adjustments.