Washington, DC, Oct. 24, 2012 -- The Federal Housing Finance Agency said its House Price Index increased by 0.7% on a seasonally adjusted basis in August compared to July.
That was the seventh back-to-back monthly increase in home prices. The last time there was a streak of seven consecutive monthly increases in the FHFA price index was back in early 2006.
The index was also 4.7% above its year-ago level following a 3.7% year-over-year increase in July and 3.8% increase in June.
The 4.7% annual increase in August home prices was the largest yearly increase since a 4.9% increase in August 2006.