U.S. home prices climb 5% in July

U.S. home prices rose again in July, pulled up by strong gains in Denver, Seattle and Portland, Ore.

The Standard & Poor's CoreLogic Case-Shiller 20city home price index rose 5% in July from a year earlier after rising 5.1% in June.

The report is further evidence that prices are being pushed up by the limited inventory of homes on the market. That’s hurting sales, despite buyer enthusiasm and historically low mortgage rates.

Prices rose 12.4% in Portland, 11.2% in Seattle and 9.4% in Denver. They rose 5.5% in Los Angeles.