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US home prices saw an annual increase of 6.7% in August
Posted on September 20, 2024 |
In August, US home prices saw a 0.5% increase, the largest since April.
Compared to last year, home prices went up by 6.7%, the lowest annual rise since January.
The limited number of homes for sale is helping to push prices higher, even though supply has grown by 16.7% from last year.
The housing supply is still 30% lower than it was before the pandemic, keeping prices elevated.