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DAILY DIGIT: 0.7% Gain in Home Prices
The Daily Digit is 0.7% The S&P/Case Shiller home price index of 20 metropolitan areas gained 0.7% in October on a seasonally adjusted basis. It was more than economists expected. Overall, prices in the 20 cities rose 4.3% year over year, with Las Vegas posting the biggest monthly rise, followed by San Diego. Chris Christopher, director of U.S. and Global consumer economics at IHS Global Insight, says 0.7% is a pretty strong number, especially if you take seasonality into account.
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