WASHINGTON (AP) – U.S. home prices increased in August, yet the pace of these gains continues to slow, helping to improve affordability for would-be buyers.
Real estate data provider CoreLogic says prices rose 6.4 percent in August compared to the prior 12 months. That marks a decline from an annual gain of 6.8 percent in July. Prices had risen as much as 12 percent yearly toward the end of last year.
Prices rose 0.3 percent in August from July. But CoreLogic’s monthly figures aren’t adjusted for seasonality, such as buying that occurs in warm weather.
Sales struck a plateau in the middle of last year and have remained subdued for much of 2014. As sales gains have slowed, so have price gains. That should eventually make it easier for Americans to afford homes.