US house price growth in August is slower than expected

US house prices rose in August by 0.3 per cent, according to data from the Office of Federal Reserve Housing Enterprise Oversight, marking the nineteenth consecutive monthly increase in the purchase-only seasonally adjusted index.

This follows expectations of a 0.8 per cent rise and July's 0.8 per cent increase (revised down from 1.0 per cent).

From August 2012 to August of this year, house prices rose 8.5 per cent.

The index is 9.4 per cent below its April 2007 peak - about the same level as it was in April 2005.