US home prices rise just 0.2 percent in October
WASHINGTON (AP) - A measure of U.S. home prices rose only modestly in October, adding to signs that prices have stabilized after big gains earlier this year.
Real estate data provider CoreLogic says prices increased 0.2 percent in October from September. That's up from a 0.1 percent gain in September but down from a 0.9 percent increase in August.
One reason for the slowdown: the figures aren't adjusted for seasonal patterns. Prices usually decline in the fall and winter, when sales slow.
Still, large gains in previous months, along with higher mortgage rates, may be pricing some buyers out of the market.
Home prices have risen 12.5 percent from a year ago. The increase could encourage more sellers to put their homes on the market, easing a shortage of homes for sale.
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