Home prices rose 0.9% in August but at half the pace of the July increase, according to a new report by CoreLogic.
“After a strong run, the rate of house appreciation slowed in August,” said Anand Nallathambi, president and chief executive of CoreLogic.
He attributed the slowdown to seasonality and the recent hike in mortgage rates from historic lows.
“We anticipate moderate gains in home prices over the balance of this year, supported by the recent downward trend in rates and continued tight supplies of homes in many markets,” the CEO said.
The Irvine, Calif.-based real estate property information vendor expects
CoreLogic reported Tuesday that prices rose 0.9% in August compared to 1.8% in July. Year-over-year, prices are up 12.4% from August 2012.
