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Spring buying boosts home prices in US cities
Posted: Aug 30, 2011 6:10 AM by Associated Press (MM)
WASHINGTON (AP) - Spring buying pushed home prices up for a third straight month in most major U.S. cities in June. But the housing market remains shaky, and further price declines are expected this year.
The Standard & Poor's/Case-Shiller home-price index shows prices increased in June from May in 19 of the 20 cities tracked. A separate figure shows prices rose 3.6 percent in the April-June
quarter from the previous quarter. Those numbers aren't adjusted for seasonal factors.
Over the past 12 months, home prices have declined in all 20 cities after adjusting for seasonal factors. Chicago, Minneapolis Washington and Boston posted the biggest
monthly increases. Metro areas hit hardest by the housing crisis, including Las Vegas and Phoenix, reported small seasonal increases.
Copyright 2011 by The Associated Press.
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