US Home Prices Rose 0.7% in August from July, FHFA Says

US Home Prices Rose 0.7% in August from July, FHFA Says

Bloomberg News (10/24, Gopal, 1M) reports, "U.S. house prices rose 0.7 percent in August from July as buyers competed for a dwindling supply of property listings, the Federal Housing Finance Agency said." Compared to the same time last year, prices were 4.7 percent higher, according to the agency. Bloomberg notes that the FHFA data are "based on single-family houses with mortgages backed by Fannie Mae or Freddie Mac."