REUTERS/Mike Blake Acquire Licensing RightsNEW YORK, Sept 26 (Reuters) - U.S. annual home price growth accelerated for a second straight month in July, signaling that softening prices in the market may be bottoming out, according to a report released on Tuesday.
Home purchase prices increased 4.6% on a year-over-year basis in July, up from a revised 3.2% increase in the prior month.
June marked the first acceleration in annual price growth since February 2022, the Federal Housing Finance Agency (FHFA) said.
The report also showed prices rose moderately on a month-over-month basis, in line with the trend over the past quarter.
"Regionally, all nine census divisions posted positive price appreciation over the last 12 months, although the Pacific and Mountain divisions experienced only modest growth," said Nataliya Polkovnichenko, FHFA's supervisory economist.
Persons:
Mike Blake, Nataliya Polkovnichenko, Amina Niasse, Paul Simao
Organizations:
REUTERS, Federal Housing Finance Agency, Thomson
Locations:
Rancho, San Diego , California, U.S, New England, Chicago, Cleveland