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US home prices rose 6.4 percent in August, but pace slows from July

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WASHINGTON — U.S. home prices increased in August, yet the pace of these gains continues to slow, helping to improve affordability for would-be buyers.

PHOTO: In this photo made on Wednesday, Sept. 10, 2014, signs welcome visitors to a model home as construction is under way at a housing development in Zelienople, Pa. Real estate date provider CoreLogic releases its August report on U.S. home prices on Tuesday, Oct. 7, 2014. (AP Photo/Keith Srakocic)
In this photo made on Wednesday, Sept. 10, 2014, signs welcome visitors to a model home as construction is under way at a housing development in Zelienople, Pa. Real estate date provider CoreLogic releases its August report on U.S. home prices on Tuesday, Oct. 7, 2014. (AP Photo/Keith Srakocic)

Real estate data provider CoreLogic says prices rose 6.4 percent in August compared to the prior 12 months. That marks a decline from an annual gain of 6.8 percent in July. Prices had risen as much as 12 percent yearly toward the end of last year.

Prices rose 0.3 percent in August from July. But CoreLogic's monthly figures aren't adjusted for seasonality, such as buying that occurs in warm weather.

Sales struck a plateau in the middle of last year and have remained subdued for much of 2014. As sales gains have slowed, so have price gains. That should eventually make it easier for Americans to afford homes.

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