The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 2.6% in the year that ended in August after rising 1.0% in July.
The August level was the highest since the index began in 1987.
The 20-City Composite posted a year-over-year increase of 2.2%, a slight increase of 0.2% in the previous month.
The 10-City Composite showed an increase of 3.0%, up from a 1.0% increase in the previous month.
Chicago led the way for the fourth consecutive month, reporting the highest year-over-year gain among the 20 cities in August.
Twelve of the 20 cities reported higher prices in the year ending August 2023 versus the year ending July 2023.
Nineteen of the 20 cities show a positive trend in year-over-year price acceleration compared to the prior month.
The Right Facts will continue to monitor home prices.