Home prices in Cedar Rapids, Iowa City areas rise in August

Home prices rose in August in Cedar Rapids, Iowa City and the state, but the pace of the gains continues to slow in the nation.

Real estate data provider CoreLogic of Irvine, Calif., reported that Cedar Rapids home prices, including distressed sales, increased 3 percent in August compared with August 2013. On a month-over-month basis, home prices increased 1 percent in August compared with July.

Excluding distressed sales, year-over-year prices in Cedar Rapids increased 3.7 percent and month-over-month sales increased by 0.6 percent.

Iowa City home prices, including distressed sales, rose 2.5 percent in August compared with the same month last year, but decreased 0.1 percent on a month-over-month basis.

Excluding distressed sales, year-over-year prices in Iowa City increased by 2.2 percent in August. Home prices, excluding distressed sales, decreased 0.2 percent from July to August.

Iowa home prices, including distressed sales, rose 2.6 percent in August compared with August 2013. Excluding distressed sales, year-over-year prices in Iowa climbed 2.7 percent.

U.S. home prices, including distressed sales, rose 6.4 percent in August compared with the same month in 2013. That marks a decline from an annual gain of 6.8 percent in July.

CoreLogic's monthly figures are not adjusted for seasonality, such as buying that occurs in warm weather. Sales hit a plateau in the middle of last year and have remained subdued for much of 2014.

As sales gains have slowed, and so have price increases.