WASHINGTON – A key housing index shows that U.S. home prices rose solidly in June, another sign of renewed health in the housing market.
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The Standard & Poor's/Case-Shiller 20-city home price index rose 5 percent from a year earlier, a slight improvement on May's 4.9 percent increase, according to S&P Dow Jones Indices.
Prices rose 10.2 percent in Denver, 9.5 percent in San Francisco and 8.2 percent in Dallas. Home prices in Washington, D.C., rose just 1.6 percent.
Strong sales are lifting prices. The National Association of Realtors said last week that sales of existing homes rose 2 percent in July to a seasonally adjusted annual rate of 5.59 million, fastest pace since February 2007.