U.S. Sees 0.4 Percent Rise in August Home Prices
(MENAFN) U.S. house prices edged up 0.4% in August, according to the Federal Housing Finance Agency (FHFA) Tuesday, defying expectations of a 0.1% decline.
The gain follows a revised July reading showing no change in prices, up from the initially reported flat result.
Price shifts varied across regions, with the Pacific division seeing a 0.8% drop while the Middle Atlantic division posted a 1.2% increase.
On an annual basis, home prices rose 2.3% in August, slightly below the revised 2.4% growth recorded in July.
Regional annual changes were uneven: the Pacific division fell 0.6% over 12 months, whereas the Middle Atlantic division surged 6.3%.
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