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'Housing Recovery Is Gathering Strength,' New Report On Prices Signals

By: Mark Memmott // December 26, 2012
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Home prices were up 4.3 percent in October from the same month a year before in the 20 major U.S. cities where the data are tracked, according to the latest S&P/Case-Shiller Home Price Indices report.

"Looking over this report, and considering other data on housing starts and sales, it is clear that the housing recovery is gathering strength," economist David Blitzer, , chairman of the Index Committee at S&P Dow Jones Indices, says in the report. "Higher year-over-year price gains plus strong performances in the southwest and California, regions that suffered during the housing bust, confirm that housing is now contributing to the economy."

The city-by-city changes in prices; October 2012 vs. October 2011:

Atlanta: 4.9 percent
Boston: 1.6 percent
Charlotte: 4.1 percent
Chicago: -1.3 percent
Cleveland: 1.8 percent

Dallas: 4.6 percent
Denver: 6.9 percent
Detroit: 10.0 percent
Las Vegas: 8.4 percent
Los Angeles: 6.2 percent

Miami: 8.5 percent
Minneapolis: 9.2 percent
New York: -1.2 percent
Phoenix: 21.7 percent
Portland: 5.2 percent

San Diego: 6.0 percent
San Francisco: 8.9 percent
Seattle: 5.7 percent
Tampa: 5.9 percent
Washington, D.C.: 4.4 percent

20-city composite: 4.3 percent

Copyright 2012 National Public Radio. To see more, visit http://www.npr.org/.

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