Home Prices Post Slight Gains as Buyers Prep for Fed's Rate Hike

March 31, 2015 4:10 PM

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Prices in 20 metropolitan cities, tracked by the S&P/Case-Shiller Home Price Index, rose 4.6% year over year in January, compared to 4.4% in December, according to numbers released Tuesday.

"Prices for existing homes look quite strong," said David Blitzer, chairman of the index committee at S&P Dow Jones Indices. "The housing market had a rough time over the past few years and bottomed out in 2012, so we're on the rebound."

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