BUSINESS BRIEF

Rise in home prices 
continues, but slows

9/24/2013
BLADE STAFF
a-realty-sign-hangs-in-front-of-a

a realty sign hangs in front of a home for sale in Gilbert, Ariz .Standard & Poor's Case-Shiller reports on home pric

ASSOCIATED PRESS

Home prices continued to recover in July, although the heady pace of gains in the first half of the year slowed a bit, according to data released Tuesday.

The leveling was not unexpected as more sellers ventured into the market and may have set less ambitious asking prices.

The Standard & Poor’s Case-Shiller home price index, which tracks sales in 20 large cities, showed prices up 12.4 percent from July, 2012, to July, 2013, and a separate index of mortgages backed by Fannie Mae and Freddie Mac showed an 8.8 percent gain in prices over the same time period.