WASHINGTON (AP) — U.S. home prices climbed 12.4 percent in August from a year ago, fueled by more buyers bidding on a limited supply of houses.
Real estate provider CoreLogic says prices also increased 0.9 percent in August from July. But the gain was half the 1.8 percent increase in July from June. The group said higher mortgage rates and the end of the summer buying season likely slowed the gains.
Prices rose in every state compared with the previous year, and in 99 of the 100 largest cities. Akron, Ohio was the only area to report a decline.
Mortgage rates have risen about a full percentage point since May. Some analysts worry that higher rates could slow home sales.
Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Original headline: US home prices rise 12.4 percent from year ago
Most Popular Stories
- 2014 Will Be 'Breakthrough Year' for U.S., Obama Says
- Renewable Energy Group to Acquire Syntroleum
- Climate Change Isn't an Equal Opportunity Destroyer
- Ally Financial Settles Auto Loan Suit
- Kanye, Kardashians and Other Kooks: A Wacky, Tacky, Entertaining Year
- Covered California Lags on Hispanic Enrollment
- Luis Suarez Re-ups With Liverpool F.C.
- Little Risk of Deportation Under Obama
- Gay Athletes Part of U.S. Sochi Group
- Chris Christie Set to Sign Tuition Aid Bill