Month-to-month increase in house prices less than economists expected
Wednesday, October 23, 2013 2:49 PM
U.S. house prices rose 8.5 percent in the year through August, extending gains even as higher mortgage rates cut into demand for real estate, according to the Federal Housing Agency, Bloomberg reported. Prices climbed 0.3 percent on a seasonally adjusted basis from July. The average of economists' estimates was for a 0.8 percent gain, according to data compiled by Bloomberg.