US home prices rise at fastest pace since 2006

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WASHINGTON (AP) — U.S. home prices rose in August from a year earlier at the pace since February 2006. But the price gains slowed in many cities from July, a sign that the spike in prices over the past year may have peaked.

The Standard & Poor’s/Case-Shiller 20-city home price index rose 12.8 percent over the 12 months ending in August. That’s up from 12.4 percent in July from a year earlier. All 20 cities showed year-over-year gains.

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