U.S. home prices increased 0.3% on a seasonally adjusted basis compared with July and increased 5.5% compared with August 2014, according to the Federal Housing Finance Agency's (FHFA) monthly home price index (HPI), which is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac.
The agency notes that it revised its estimated increase for July downward from 0.6% to 0.5%.
As of August, U.S. home prices were, on average, within 0.9% of the peak recorded in March 2007. As of August, home prices were about at the same level as December 2006, according to the FHFA's data.
Looking at the nine census divisions tracked, the East North Central and Middle Atlantic regions saw home prices decrease 0.4% month over month, while the East South Central division saw prices increase 0.8%.
Year over year, all regions posted gains, ranging from 2.2% in the Middle Atlantic division to 8.3% in the Mountain division.