WASHINGTON – U.S. home prices rose 0.4% in August from the previous month, marking a 2.3% gain over the past year, according to the Federal Housing Finance Agency’s latest House Price Index.
The agency also revised July’s slight decline to flat growth, underscoring a housing market that remains resilient despite cooling demand.
For the nine census divisions, seasonally adjusted monthly home price changes ranged from -0.8% in the Pacific division to +1.2% in the Middle Atlantic division. The 12-month changes ranged from -0.6% in the Pacific division to +6.3% in the Middle Atlantic division.
The FHFA HPI is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970s from all 50 states and over 400 American cities, FHFA added.