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Home Prices Up

Yesterday's note about it being easier to save up for a home in Detroit than anywhere else may have been a little premature. Newly released data says that average Detroit home prices were up 6% in June over the previous month-- more than was recorded for any of the other 19 cities tracked by the Standard & Poor's/Case-Shiller home price index. June also showed the first year-over-year gain in average US housing prices since summer 2010, suggesting that housing is picking up overall. Enjoy the buyer's market while it lasts, guys. [Freep]