Home prices rose at a slow pace from July to August, after experiencing a sharp decline in the previous month, according to FNC.
Home prices increased 0.2% on a seasonally unadjusted rate, FNC said in its
"Despite healthy underlying economic conditions, the summer home-buying season is coming to an end and various housing indicators are showing just that," Yanling Mayer, FNC's housing economist and research director, said in a news release.
"Tailwinds from falling mortgage rates in recent weeks, amid the Fed's announcement not to raise the target interest rate for now, could drive additional home-buying activity," Mayer said.
The proportion of final sales for foreclosures and REO properties made up 9.2% of all home sales, as of the end of August.
