Home prices hit a new record in June amid an ongoing&nbsp;<a href="https://foxbusiness.com/economy/housing-inventory-remains-painfully-low-as-shortage-persists" target="_blank" rel="noreferrer noopener">housing shortage</a>, even as high mortgage rates continued to push affordability out of reach for millions of Americans.

Prices increased 5.4% nationally in June when compared with the previous year, the S&amp;P CoreLogic Case-Shiller index showed on Tuesday, down from the 5.9% pace recorded the previous month.

On a monthly basis, prices climbed 0.2%, according to the index.

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New data published by the S&P CoreLogic Case-Shiller index shows that home prices climbed to a new record high in June as the affordability crisis worsens.{ai:summary}Home prices reached a record high in June, increasing 5.4% year-over-year, despite high mortgage rates impacting affordability for many Americans. Monthly prices rose 0.2%, as reported by the S&P CoreLogic Case-Shiller index.#economy

Home prices just smashed another record high in June

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