The FHFA House Price Index for August was up 0.2% compared to July and 4.6% higher compared to August 2018. The month-over-month gain was meager and the year-over-year pace was slowest since up 4.6% in October 2014.
In spite of the declines in mortgage interest rates and increases in income that have helped revive the housing market, it appears that buyers are still driving hard bargains and sellers are not getting the same sorts of price competition they were in recent year in spite of a decent pace of sales.
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