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News Summary: US home prices up by most in 6 years
The Associated Press Translate This Article
4 September 2012
HOME PRICES RISE: U.S. home prices jumped 3.8 percent in the 12 months ending in July, according to CoreLogic, a private real estate data provider. The year-over-year increase was the biggest since August 2006.
STEADY RISES: The index is the third national measure to show steady increases. The Standard & Poor's/Case-Shiller index posted its first annual increase in nearly two years last week. And a federal government housing agency has also reported annual increases.
SLOW RECOVERY: The housing market is slowly recovering. Sales are up. Builders are starting work on more homes. Still, prices remain 27 percent below their peak in April 2006, CoreLogic said.
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