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U.S. home price gains moderate, index shows

U.S. home price gains moderate, index shows

The pace of home price gains appears to be slowing nationally, even as metropolitan markets posted strong year-over-year increases in July, according to a leading index. Home prices rose 1.8% over June and 12.4% compared with a year earlier, according to the Standard & Poor's/Case-Shiller index of the 20 largest U.S. cities, released Tuesday. But 15 of those cities saw monthly gains moderate from June. "The rate of increase may have peaked," David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices, said in a statement. That's welcome news for many first-time home buyers, who increasingly have been priced out of many markets. The housing...

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