WASHINGTON — U.S. home prices increased in August, yet the pace of these gains continues to slow, helping to improve affordability for would-be buyers.
Prices rose 6.4 percent in August compared with a year ago, Real estate data provider CoreLogic said Tuesday. That marks a decline from an annual gain of 6.8 percent in July. Home prices had been rising 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 have slowed, so have price gains. That should eventually make it easier for would-be buyers to afford homes.
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