U.S. home prices rose in June from the same month last year, according to the Standard & Poor's/Case-Shiller home price index released Tuesday. Steady increases have contributed to a housing recovery that began earlier this year. And most markets are being affected by foreclosures.
Bank-owned homes typically sell at a sharp discount, weighing down the values of nearby homes. In markets where the supply of bank-owned homes for sale has declined, investors and other buyers will often drive up prices on the few properties that hit the market...............................................Full Article: Source
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