US Home Prices See Modest Gains in August
(MENAFN) US home values increased by 0.4% on a month-to-month basis in August, according to the Federal Housing Finance Agency (FHFA) on Tuesday.
This reading comes after July’s house prices were revised upward, showing no change (0%), and it exceeded analysts’ forecasts, which had predicted a 0.1% decline for August.
Across the nine regions tracked by the index, monthly fluctuations in home prices varied, ranging from a decline of 0.8% in the Pacific division to a rise of 1.2% in the Middle Atlantic division.
On an annual scale, property prices climbed 2.3% in August, slightly below July’s revised increase of 2.4%.
Examining the nine divisions over the past 12 months, changes in house prices spanned from a 0.6% decrease in the Pacific division to a 6.3% gain in the Middle Atlantic division.
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