NEW YORK (CNNMoney.com) -- Home prices have risen for five straight months, but the rate of growth has slowed, according to an industry report released Tuesday.
Prices inched up 0.6% in July compared with June, according to S&P/Case-Shiller 20-city home price index. On a year-over-year basis, prices rose 3.2% compared with July 2009.
It is interesting to see house price rise while investment is not. If home investment doesn't start rising, home prices may have to fall again to meet the equilibrium of supply and demand. The author is right when commenting about the expected return from the housing market. It is clear the days of overpriced homes are over and a more stable market will take its place.
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