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Home prices rise in 88pct of U.S. cities as recovery gains

Posted on 12 February 2013

Prices for single-family homes climbed in almost 88 percent of U.S. cities in the fourth quarter as the housing recovery broadened. The median sales price rose from a year earlier in 133 of 152 metropolitan areas measured, the National Association of Realtors said in a report. In the third quarter, 120 areas had gains.
An improving job market and low interest rates are driving up prices by fueling demand for a tightening supply of listings. The national median price for an existing single-family home was $178,900 in the fourth quarter, up 10 percent from the same period last year. That was the biggest gain since 2005, according to the Realtors group………………………………………..Full Article: Source


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