Hard Hit Vegas Shows Rise in Home Prices

The latest evidence of a steady housing recovery is that home prices in almost all U.S. cities rose in the last month. This increase of 2 percent from July is at a higher rate than it has been. Las Vegas alone rose .9 percent.

Home prices rose in nearly all U.S. cities last month, the latest evidence of a steady recovery in housing.

The Standard & Poor’s/Case Shiller index reports that national home prices increased 2 percent in August compared with the same month a year ago. That’s the third straight increase and a faster pace than in July.

And prices in hard-hit Las Vegas rose 0.9 percent, the first year-over-year gain since January 2007.

The report also says prices rose in August from July in 19 of the 20 cities tracked by the index. Prices had risen in all 20 cities in the previous three months.

Seattle reported a small decline of 0.1 percent in August from July. Prices are still 3.4 percent higher than a year ago.

The housing market is slowly but steadily recovering from a couple years ago. These numbers are just evidence, and hopefully mean that the rate of increase will continue to grow in upcoming months.

Source: MSNBC

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