US Home Prices Rise Further in August
US single-family house prices rose 0.3 percent in August as the housing market faced pressure from rising mortgage rates. Prices increased 2.4 percent over the 12 months through August, driven by regional gains.
Insights:
United States single-family house prices rose 0.3% in August, pushing up annual gains by 2.4% despite soaring borrowing costs. The Federal Housing Finance Agency reported the increase on Tuesday, following a downwardly revised 0.2% gain in July. Higher property values and mortgage rates have fueled an affordability crisis for prospective buyers.
