Home Prices Increase in 20 Major Cities Last Month

Posted on: October 30th, 2012 by ABC News No Comments

Phillip Spears/Digital Vision(WASHINGTON) — Home prices rose in nearly all major American cities in August, the biggest jump in two years.

Prices were up 1 to 2 percent in 20 major cities — from Detroit to Dallas. In hard-hit Phoenix, home price tags up more than 1.5 percent.

“As home prices increase [consumers] are more inclined to of course spend,” said Wells Fargo Securities economist Anika Khan.

“We have had a string of very positive, better-than-expected reports,” she added, nothing that while the home price jump helps, the economy still needs to create more jobs.

Copyright 2012 ABC News Radio

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