Home prices up at 0.5% pace in August

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Home prices rose 0.5% on an annual basis in August, not seasonally adjusted, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, released Tuesday.

In July, the index rose 5.9%.

The 10-city composite index grew 5.3% year-over-year, up from 5.2% the prior month, while the 20-city index grew 5.9% year-over-year, up from 5.8% in July.

“Seattle, Las Vegas and San Diego reported the highest year-over-year gains among the 20 cities, with year-over-year price increases of 13.2%, 8.6% and 7.8%, respectively,” according to a release.

Nine cities saw larger increases for the year ending August than in July.

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