Why Home Price Gains Might Even Stick This Time

A newly built home in Pickerington, Ohio. Photograph by Ty Wright/Bloomberg

Well, here’s some good news: On Tuesday the Case-Shiller Index showed that June home prices in 20 U.S. cities were higher than a year ago, the first year-over-year gain since 2010, when a first-time homebuyer tax credit boosted sales. “The better comparison is probably December 2006—the last time prices were in positive territory excluding tax-credit-induced distortions,” Deutsche Bank economists wrote in a note on Tuesday morning.

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