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US Home Prices Rise In August

US Home Prices Rise In August
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Tuesday, October 30, 2012 - 6:10pm

Home prices rose in August in nearly all U.S. cities, and many of the markets hit hardest during the crisis are starting to show sustained gains. The increases are the latest evidence of a steady housing recovery.

The Standard & Poor's/Case Shiller index reported Tuesday 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.

The report says prices rose in 19 of the 20 cities tracked by the index. 

Seattle was the only city to see a slight decline.

The gains mean average home prices are back to their 2003 levels, though still down about 30 percent from their 2006 peak.

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