US house prices rise 1.4% month-on-month in July

House prices rose across the US in July, up 1.4% month-on-month, according to the Federal Housing Finance Agency's house price index. On an annual basis, house prices were up 19.2%.

The previously reported 1.6% price change for June was revised upward to 1.7%.

For the nine census divisions, seasonally adjusted monthly house price changes from June to July ranged from 0.8% in the West North Central division to 1.9% in the South Atlantic division.

The 12-month changes ranged from 15.6% in the West North Central division to 25.6% in the Mountain division.

"Record appreciation rates for the US continued in July," said Dr Lynn Fisher, FHFA's deputy director of the Division of Research and Statistics.

"Although the monthly pace of increase slowed in most Census Divisions in July, four areas experienced year over year growth rates in excess of 20% and all saw annual gains in excess of 15 percent."