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Home Prices Climb in 88% of U.S. Cities

Prices for single-family homes climbed in 88 percent of U.S. cities in the third quarter as buyers competed for limited inventories that included fewer discounted foreclosures.

The median transaction price rose from a year earlier in 144 of 163 metropolitan areas measured, the National Association of Realtors said in a report today. A third of areas had double-digit increases.