US house prices annually rise 5.6% in August

By Ovunc Kutlu

ISTANBUL (AA) – US house prices annually rose 5.6% in August, compared to the same period of last year, according to the Federal Housing Finance Agency (FHFA).

The house price index, which reflects the average change of house prices across the nation, was up 4.6% in July from the same month of last year.

On a monthly basis, house prices rose 0.6% in August, following a 0.8% increase in July, the FHFA said Tuesday in a statement.

"U.S. and regional house price gains remained strong over the last 12 months." said Dr. Nataliya Polkovnichenko, supervisory economist at the FHFA’s Division of Research and Statistics. "The South Atlantic division showed moderate weakness in August, while the remaining census divisions posted positive price appreciation from the previous month."