Home prices jump for seventh straight month in August

October 31, 2023 at 09:11 AM EDT

U.S. home prices continued to march higher in August, according to S&P data, even as the housing market grapples with an ongoing spike in mortgage rates.

Home prices rose for the seventh consecutive month in August even as buyers continued to confront steep mortgage rates.

Prices increased 0.4% nationally in the period from July to August on a non-seasonally adjusted basis, the S&P CoreLogic Case-Shiller index showed Tuesday. On an annual basis, prices are up 2.6% from their peak the same time last year, according to the index.

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