Tax Credit Tailwind Lifts July Home Prices 8%

July house prices gained 8.1% from the same point last year, slowing somewhat from the 8.8% growth measured in June as the effect of the homebuyer tax credit begins to fade, according to data provider Clear Capital.

Clear Capital's Home Data Index Market Report tracks housing prices along a rolling quarter-by-quarter basis. July house prices increased 7.9% from the previous three months, an improvement from the 5.2% growth seen in June. Alex Villacorta, senior statistician at Clear Capital said home prices are continuing their growth from the beginning of the year.

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