In September 2024, the average price of single-family homes in the United States rose by 0.7% compared to August. This increase surpassed the expected 0.3% rise and marked the largest monthly gain since February.
The data focuses on homes with mortgages backed by Fannie Mae and Freddie Mac, two government-supported agencies that help finance the housing market.
Year over year, home prices climbed by 4.4%, matching the annual growth rate seen in August. This is significant because it’s the first time since February that the yearly growth rate has not declined.
