WASHINGTON — U.S. home prices rose 12.4 percent in July compared with a year ago, the most since February 2006. An increase in sales on a limited supply of available homes drove the gains.
The Standard &Poor’s/Case-Shiller 20-city home price index reported Tuesday improved from June, when it rose 12.1 percent from a year ago. And all 20 cities posted gains in July from the previous month and compared with a year ago.
The month-over-month gains in the 20-city price index have slowed for three straight months, indicating prices may be peaking.
Read tomorrow's Arkansas Democrat-Gazette for full details.