HOME PRICES RISE: The Standard & Poor’s/Case-Shiller index of home prices in 20 major U.S. cities posted a 1 percent increase in June from a month earlier. Prices rose in 17 cities.
MOMENTUM FADES: Several markets had weaker monthly gains in June than in the previous months, including San Francisco, San Diego and Los Angeles.
PRICES LIKELY TO FALL: Prices are expected to fall through the rest of the year now that demand has faded. Sales surged earlier in the year when the government was providing tax credits of up to $8,000.
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