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U.S. home prices rose 0.25% in August as annual growth accelerated

Redfin said the Redfin Home Price Index showed prices up 3.7% year over year, the fastest annual increase in a year.

Reported · Written up by our desk · Residential

U.S. home prices rose 0.25% month over month in August on a seasonally adjusted basis, according to Redfin's Home Price Index.

That monthly gain was down slightly from 0.26% in July and 0.27% in June, while annual prices climbed 3.7% year over year in August, the fastest year-over-year growth rate in a year.

Redfin noted its RHPI uses a repeat-sales pricing method to track changes in single-family home sale prices since their previous sale.

Redfin also pointed to market conditions, saying August was the strongest buyers market on record, with 58% more home sellers than buyers nationally, even as sale prices continued to rise.

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