Wednesday, November 28, 2012

News Summary: Home prices rise in most US cities

PRICES RISE: Home prices increased in September in most major U.S. cities, more evidence of a housing recovery that is providing a lift to the fragile economy. The Standard & Poor's/Case-Shiller 20-city index of home prices rose 3 percent in September compared with the same month last year.

BROAD INCREASES: Prices also gained 3.6 percent in the July-September quarter compared with the same quarter in 2011. Prices increased in 18 of 20 cities over the 12 months ending in September.

ECONOMIC BENEFITS: Higher home prices make homeowners feel wealthier and more likely to spend. That boosts consumer spending, which drives 70 percent of the economy.

Source: http://news.yahoo.com/news-summary-home-prices-rise-most-us-cities-205657363--finance.html

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