US House Prices Annually Rise 18.5% In Q3

Home prices in the US increased 18.5% in the third quarter of 2021 from the same period last year, according to data released Tuesday by the Federal Housing Finance Agency (FHFA).

While house prices increased 4.2% in the third quarter from the previous quarter, the monthly index for September was up 0.9% from August.

"House price appreciation reached its highest historical level in the quarterly series," William Doerner, supervisory economist in FHFA's Division of Research and Statistics, said in a statement.

"Compared to a year ago, annual gains have increased in every state and metro area. Real estate prices have risen exceptionally fast, but market momentum peaked in July as month-over-month gains have moderated," he added.

House prices rose in all 50 US states annually in the third quarter.

The top three states that saw the highest annual price appreciation were Idaho with 35.8%, followed by Utah with 30.3% and Arizona coming at 27.7%. -