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US home prices rise in August at faster pace

By: CHRISTOPHER S. RUGABER, AP Economics Writer
By: CHRISTOPHER S. RUGABER, AP Economics Writer
The Associated Press<br>
A “sold” notice is posted on the “for sale” sign of a house in Seattle. Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.

The Associated Press
A “sold” notice is posted on the “for sale” sign of a house in Seattle. Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.

BC-US--Home Prices
US home prices rise in August at faster pace
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CHRISTOPHER S. RUGABER
AP Economics Writer

WASHINGTON (AP) - 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.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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