Home Prices in U.S. Recede as Tax Credit Expiration Hurt Sales
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Home prices in 20 U.S. cities rose at a slower pace in July from a year earlier as the end of a government tax credit hurt sales.
The S&P/Case-Shiller index of property values increased 3.2 percent from July 2009, the smallest year-over-year gain since March, the group said today in New York. The gauge is a three-month average, which means the July data are still being influenced by transactions in May and June that may have benefitted from the incentive.