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Post by bot on Jul 30, 2013 14:35:46 GMT -5
U.S. home prices surge as Dallas, Denver at record
WASHINGTON (MarketWatch) -- U.S. home prices continued to accelerate in May, with Dallas and Denver now at record levels, according to data released Tuesday. The S&P/Case-Shiller 20-city composite jumped 2.4% in May to take the year-on-year change to 12.2%. Each of the 20 cities rose by at least 1.2% and San Francisco saw a monthly pop of 4.3%. "Two cities set new highs, surpassing their pre-crisis levels and five cities - Atlanta, Chicago, San Diego, San Francisco and Seattle - posted monthly gains of over 3%, also a first time event," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices, in a statement. The fall from the peak in the summer of 2006 is roughly 25%. The gains in May largely precede a spike in interest rates that may dampen demand
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