US home prices continued to rise in August, marking the seventh consecutive month of increases. Even as mortgage rates topped 7% in August, historically low inventory continued to push up the price of a home.

Prices rose 0.9% in August from the month before, according to seasonally adjusted data from the S&P CoreLogic Case-Shiller US National Home Price Index released Tuesday.

Compared to a year ago, the national composite index also rose, with prices up 2.6% from August 2022, according to Case-Shiller data.

This is a developing story and will be updated.