U.S. house prices rose in the third quarter at their fastest over-the-year pace on record, according to a new report from the Federal Housing Finance Agency (FHFA). From the third quarter of 2020 to the third quarter of 2021, U.S. house prices rose 18.5 percent, the highest pace in the history of the data series, which goes back to 1991, the agency said in a release. “House price appreciation reached its highest historical level in the quarterly series,” William Doerner, Supervisory Economist at FHFA’s Division of Research and Statistics, said in a statement. “Compared to a year ago, annual gains have increased in every state and metro area.” On a quarter-over-quarter basis, house prices rose 4.2 percent in the third quarter, a downtick from the previous quarter’s record-setting 5.07 percent pace of growth. On a month-over-month basis, house prices rose 0.9 percent in September, a slower pace than in the past few months. …