Home Prices Up By 1.2% In Recent Quarter

A new report shows that average home prices in the U-S rose by one-point-two percent in the second quarter of the year, compared to the same time in 2011. But Fiserv (fy’-serv) Case-Schiller of Brookfield said home prices in Metro Milwaukee kept falling during that period, by two-point-two percent. And the company predicted that home prices would drop another one-point-four percent by the second quarter of next year, before rebounding later in the year. Fiserv Case-Schiller said the nation had the first year-to-year increase in home prices since 2006 – and the impact of the 2010 federal stimulus tax credit was not included in the figures. The report said the markets which suffered the most from the Great Recession had some of the biggest recoveries in home prices over the last year. Phoenix had a second-quarter increase of 14-and-a-half percent, and Detroit’s prices jumped 11-point-six percent.