U.S. housing prices have seen the largest quarterly increase in six and a half years

U.S. housing prices have experienced the largest quarterly increase in six and a half years [Duowei Finance] According to an index released by the government, U.S. housing prices experienced the largest quarterly increase in six and a half years...

[Duowei Finance] According to an index released by the government, U.S. home prices experienced the largest quarterly increase in six and a half years, which is another sign that the U.S. housing market is stabilizing after a long period of downturn.

The Federal Housing Finance Agency (FHFA) said on Thursday (August 23) that U.S. housing prices rose 1.8% from April to June compared with the first quarter. This was the biggest quarterly gain since the fourth quarter of 2005, when prices rose 2.2%. House prices rose 3% in the second quarter compared with the same period last year.

On a monthly basis, house prices in June increased by 0.7% compared with May after adjusting for seasonal factors, and the increase was higher than expected. Economists surveyed by Dow Jones Newswires had expected home prices to rise 0.6% in June from the previous month. House prices in May were revised to rise by 0.6% month-on-month, compared with the initial value of 0.8%. (Edited by Wang Lei)