US home prices saw an annual increase of 6.7% in August

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.