Home Prices Take Biggest Jump Since 2006

Up 12.2% in May compared with a year ago
By Kate Seamons,  Newser Staff
Posted Jul 30, 2013 8:28 AM CDT
A home is sold in Mt. Lebanon, Pa., Tuesday, July 23, 2013.   (AP Photo/Gene J. Puskar)
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(Newser) – US home prices jumped 12.2% in May compared with a year ago, per the Standard & Poor's/Case-Shiller index of property values; that's the biggest yearly gain since March 2006, reports the AP. The highlights didn't stop there: Bloomberg reports that each of the 20 cities in the index showed a price increase as compared to 2012. (San Francisco led the pack with a 24.5% gain; New York was at the rear with 3.3%.) Prices in Dallas and Denver reached the highest level on record, which date back to 2000; that marks the first time a city in the index hit a level above its pre-financial crisis peak. (Read more housing market stories.)

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