Today’s S&P/Case-Schiller index of property values indicates that home prices in 20 US cities increased at a slower rate in July when compared to one year ago. The increase of 3.2 percent is the smallest year-over-year gain since March and coincides with the ending of a government tax credit.
Ã¢â‚¬Å“The big happening in housing markets right now is the decline in buyer demand and stagnating supply,Ã¢â‚¬Â said Guy LeBas, chief fixed income strategist at Janney Montgomery Scott LLC in Philadelphia. Ã¢â‚¬Å“A huge portion of potential demand canÃ¢â‚¬â„¢t afford a home or get a loan.Ã¢â‚¬Â
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