FHFA: Home Prices Rose 0.3% In August

U.S. home prices continued on their upward trajectory in August, rising 0.3% compared to July, on a seasonally adjusted basis, according to the Federal Housing Finance Agency's (FHFA) monthly House Price Index, which uses home price data furnished by government-sponsored enterprises Fannie Mae and Freddie Mac.

August marked the 19th consecutive month that home prices increased, according to the FHFA. The agency revised down the reported 1% increase for July to a 0.8% increase.

Home prices increased about 8.5% from August 2012 to August 2013, according to the report.

Still, home prices are about 9.4% below April 2007's peak.

Looking at the nine census divisions covered by the report, the South Atlantic division saw home prices decrease 0.5% from July to August, while the Mountain division saw prices increase 1.3%, the Middle Atlantic division saw prices increase 4% and the Pacific division saw prices increase a whopping 18.2%.

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