Washington: US house prices rose 0.4% on a monthly basis in August, the Federal Housing Finance Agency (FHFA) said Tuesday. The figure followed an upwardly revised no change in the house prices (0%) in July, while it defied market expectations of a 0.1% decline for August.

According to Anadolu Agency, among the nine regions for which the index is calculated, monthly home price changes varied significantly, with the Pacific division experiencing a decline of 0.8%, while the Middle Atlantic division saw an increase of 1.2%.

On an annual basis, house prices rose by 2.3% in August, following an upward revision of a 2.4% increase in July. Among the nine divisions, the 12-month changes ranged from a decrease of 0.6% in the Pacific division to an increase of 6.3% in the Middle Atlantic division.