1034 ET - U.S. home prices increased 0.25% month over month in August, Redfin says. That's down slightly from 0.26% in July and 0.27% in June. Prices rose 3.7% from a year earlier in August, the fastest annual growth rate in a year. Price growth slowed slightly because buyers continue to gain bargaining power. August was the strongest buyer's market on record. Home prices continue to rise, partly because many homeowners have substantial equity and little incentive to accept a steep discount. The luxury housing market is another factor keeping prices afloat. Slowing price growth is good news for buyers, Redfin says, because it means waiting for the right home is less likely to come with a rapidly rising price tag. Buyers can afford to be choosy and negotiate.
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