Home prices were up 2.6% in August compared to the same month a year ago, according to the S&P CoreLogic Case-Shiller Index released today. The 10-city composite increased 3% year over year compared to a 1% increase the previous month. The 20-city composite increased 2.2% year over year, improving from a 0.2% increase the previous month. Chicago reported the highest year-to-year gain among the 20 cities tracked at 5%. Read more.
Meanwhile, the Federal Housing Finance Agency’s House Price Index showed that home prices rose 0.6% in August compared to the previous month. Home prices rose 5.6% year over year. The FHFA index is calculated using the prices of houses bought with mortgages backed by Fannie Mae and Freddie Mac. Read more.
