Home prices up at 5.9% pace in July

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Home prices rose 5.9% on an annual basis in July, not seasonally adjusted, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index, released Tuesday.

In June, the index rose 5.8%.

The 10-city composite index grew 5.2% year-over-year, off from 4.9% the prior month, while the 20-city index grew 5.8% year-over-year, up from 5.6% in June.

“Seattle, Portland and Las Vegas reported the highest year-over-year gains among the 20 cities, with year-over-year price increases of 13.5%, 7.6% and 7.4%, respectively,” according to a release.

Twelve cities saw larger increases for the year ending July than in June.

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