U.S. home prices continued to increase at a modest rate in August, rising 1.0% on a seasonally adjusted basis compared with July, according to the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index.
The index’s 10-city and 20-city composites, measuring home price growth in the largest U.S. cities, posted month-over-month increases of 0.5% each.
Year over year, home prices were up 5.7%.
“Housing prices were strong in August,” says Craig J. Lazzara, managing director and global head of index investment strategy at S&P Dow Jones Indices, in a statement. “The national composite index gained 5.7 percent relative to its level a year ago, well ahead of July’s 4.8 percent increase.
“The 10- and 20-city composites – up 4.7 percent and 5.2 percent, respectively – also rose at an accelerating pace in August,” Lazzara says. “The strength of the housing market was consistent nationally – all 19 cities for which