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12 Cities Where Home Prices Have Risen Most

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These 12 metro areas experienced the largest percentage increases in existing single-family home prices among cities with populations of more than 250,000 for the year ending March 31, 2013. Prices come from Clear Capital, a provider of real estate data and analytics.

The spike in home prices in these cities was driven primarily by demand from investors, who snatched up bargains in distressed properties. With tight supply and higher prices, sales in most of these cities are slowing compared with the year before. Until more homeowners recoup more of the market value they lost and list their homes for sale, and until builders create more new homes, supply will remain low -- undergirding higher home prices. However, as the housing recovery progresses, double-digit price hikes will moderate, possibly as soon as the second half of 2013.

U.S. BENCHMARK STATISTICS: One-year change in home prices: 6.8%; Median home price: $177,500; Change in price since 2006 peak: -33.8%; Unemployment rate: 7.5% (seasonally adjusted), 8.1% (non-adjusted). City-specific unemployment rates to follow are non-adjusted; Foreclosure rate: 1 in every 296 households (0.34%); Distressed sales: 23.4%

Sales, supply and other market data come from regional associations of Realtors and multiple-listing services. Foreclosure rates are from RealtyTrac. Home prices are from Clear Capital. All home price data is for existing single-family homes only. Distressed sales statistics are from CoreLogic.

12 Cities Where Home Prices Have Risen Most
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