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Home Prices See Gains Once Again

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Home Prices See Gains Once Again

New data from the latest Standard and Poor’s (S&P) and Case-Shiller’s House Price Index – National showed gains of 5.6 percent on a year-over-year basis, according to a new report from the National Association of Home Builders. House prices have seen year-over-year increases every month for the last 27 months. Over this two plus year period, prices have gone up by 20.7 percent and are now back to a level last seen in April 2005.

Additionally, the Federal Housing Finance Agency (FHFA) reports that its measure of home prices, the House Price Index – Purchase Only, increased by 4.5 percent on a yearly basis in July 2014. Gains were made in this area every month for the last 30 months, with prices rising by 21 percent overall. As for the readings on this index, price levels have returned to September 2005 readings.

Read the full article from NAHB here.

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