Home prices rose for the seventh consecutive month in August even as buyers continued to confront steep mortgage rates.

Prices increased 0.4% nationally in the period from July to August on a non-seasonally adjusted basis, the S&P CoreLogic Case-Shiller index showed Tuesday. On an annual basis, prices are up 2.6% from their peak the same time last year, according to the index.

HOME PRICES COULD SURGE OVER THE NEXT YEAR AS AFFORDABILITY CRISIS WORSENS

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