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Case-Shiller: August Home Prices Accelerate

According to the Case-Shiller 20-City Home Price Index, U.S. home prices increased by 0.40 percent in August, which boosted year-over-year home price growth to 5.10 percent. Denver, Colorado continued to lead in home price gains with a monthly increase of 0.90 percent and a year-over-year gain of 10.70 percent. San Francisco, California also posted a year-over-year gain of 10.70 percent, but posted a month-to-month loss of -0.10 percent. Portland, Oregon posted a year-over-year gain of 9.40 percent with a month-to-month gain of 1.10 percent.
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Sales of Pre-Owned Homes Hit Second Highest Level in 8 Years

Housing markets show continued strength as the National Association of Realtors reported that sales of existing homes reached their second highest level since February 2007. Sales of pre-owned homes increased by 4.70 percent and reached 5.55 million sales on a seasonally adjusted annual basis against analyst expectations of 5.34 million sales and August’s reading of 5.30 million sales of previously owned homes.
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