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September 22, 2011
Home Prices Begin to Lose Momentum; Up 0.1% in July
FNC announced Thursday that U.S. home prices managed to rise for the fourth consecutive month, ending in July with a small month-over-month increase. In total, the four-month seasonal upswings have led to home prices rising more than 2.2% in the last six months, significantly outperforming the same period a year ago under the federal tax credits.
In light of widely expected deteriorations in long-term economic fundamentals, which come on the heels of an economy already struggling with slow growth and high unemployment, current improvements in the housing market could prove short-lived.
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