Home Prices Rose In All Major Cities In June

By: Associated Press
By: Associated Press

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Tuesday, August 28, 2012

U.S. home prices rose in June from May in every city tracked by a leading index, an encouraging sign that the housing market is improving.

The Standard & Poor's/Case-Shiller home price index showed increases in all of the 20 cities tracked for a second consecutive month. A measure of national prices rose 2.3 percent in June from May, the third straight increase. And home prices jumped nearly 7 percent in the April-June quarter from the previous quarter.

All but two cities in the national composite posted stronger gains in June than May. Detroit, Minneapolis, Chicago and Atlanta recorded the biggest one-month gains.

The increases partly reflect the impact of seasonal buying. The month-to-month prices aren't adjusted for seasonal factors.


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