US house prices rise with lower rates

Washington, Aug 26 (IANS) US house prices remained on an upward track in the second quarter of 2015, the Federal Housing Finance Agency (FHFA) reported.

House prices increased 1.2 percent in the second quarter, the 16th consecutive quarterly price rise, lower than the 1.45 percent increase in the first quarter, Xinhua cited the FHFA’s House Price Index.

The FHFA’s House Price Index said US house prices rose 0.2 percent in June from the revised level of May, the lowest growth rate this year.

“Although too early to tell whether it is a sign of a slowdown, the monthly appreciation rate in June was more modest than we have seen in a while,” said FHFA principal economist Andrew Leventis.

The FHFA data said the house price appreciation in the second quarter still far exceeded the pace of overall inflation. Compared with last year, house prices rose 5.4 percent from the second quarter of 2014.

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