U.S. home prices increased 0.7% in August compared with July and increased 6.4% compared with August 2015, according to the Federal Housing Finance Agency’s monthly house price index, which is based on home sales data reported by Fannie Mae and Freddie Mac.
The previously reported 0.5% increase in July remained unchanged.
Of the nine census divisions tracked, the strongest month-over-month gains were in the Pacific division (7.9%,) and the Middle Atlantic division (3.3%).
The New England division saw an increase of 1.2% while the West North Central division saw no change.