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August 29, 2012

Home price index shows first yearly gain since 2010

by Rylan Stewart

The 20-city Case-Shiller home price index showed gains for the fifth straight month and year-over-year advances for the first time since 2010.

June home prices rose by 0.5 percent from the previous year, and second quarter home prices rose 1.2 percent from the same quarter of 2011. When compared to the first quarter of 2012, prices rose a remarkable 6.9 percent, although some of this can be accounted for by the normal summer season bump.

Although the 20-city average showed improvement, there are still seven cities that are either at or below price levels from 2011. Atlanta (-12.1 percent), Chicago (-1.7 percent), Las Vegas (-1.8 percent), Los Angeles (-0.6 percent), New York (-2.1 percent) San Diego (-0.2 percent), and Boston (0.0 percent).

You can read the full press release HERE.

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