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April Home Prices Up Nearly 11% From 2013
According to S&P/Case-Shiller, home prices jumped nearly 11-percent in April from a year ago.
Five cities posted strong month-over-month gains: Atlanta, Boston, Chicago, San Francisco and Seattle, all of which jumped at least 2-percent.
David Blitzer of S&P Dow Jones Indices says prices are being supported by cash sales, low inventories and declining foreclosure sales.
Blitzer also said first time home buyers are not back in force and that qualifying for a mortgage remains challenging.