US house prices rise 3% annually in Q2

By Ovunc Kutlu

ISTANBUL (AA) – US house prices rose 3% annually in the second quarter of 2023, compared to the same period of last year, the Federal Housing Finance Agency (FHFA) said on Tuesday.

The house price index, which reflects the average change of house prices across the nation, was up 1.7% from the first quarter of this year.

On a monthly basis, house prices rose 0.3% in June compared to May, the FHFA said in a statement.

"US house prices appreciated at a slightly higher rate in the second quarter amid low inventory," said Anju Vajja, a top official in the agency’s research and statistics department. "While prices in a number of western states continued to decline year-over-year, house prices rose in all states quarter-over-quarter."

In the second quarter of 2023, house prices annually rose in 42 American states, led by Maine and Connecticut with 7.6% each and New Hampshire with 7.1%.