Home prices jump for seventh straight month in August

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.

HOME PRICES COULD SURGE OVER THE NEXT YEAR AS AFFORDABILITY CRISIS WORSENS

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