House Prices Rose 0.3 Percent in August

House prices in the U.S. rose 0.3 percent in August on a seasonally adjusted basis according to the Federal Housing Finance Agency (FHFA) monthly House Price Index (HPI), down from a 0.5 percent monthly gain in July. The FHFA HPI is calculated using home sales information from mortgages sold to, or guaranteed by Fannie Mae and Freddie Mac. According to the Index, housing prices are up 5.5 percent from one year ago.

Prices rose in six of the nine census divisions, with changes ranging from a 0.8 percent increase in the East South Central division, to declines of 0.4 percent in both the East North Central, and Middle Atlantic regions. On a yearly basis, all divisions posted gains. Prices in the Mountain division saw the most pronounced gains, rising 8.3 percent year over year, followed by the Pacific and South Atlantic regions at 7.4 and 7.3 percent respectively. New England and the Middle Atlantic saw more modest gains with prices increasing by 3.2 and 2.2 percent.

Read the FHFA release.