Home Prices Gain in 91 U.S. Cities

Home Prices Gain in 91 U.S. Cities

by -

neighborhood-homes.jpgHome prices rose in 91 U.S. cities in the first quarter as states hard hit by foreclosures began to recover and a tax credit cut the number of properties for sale.

The median price of a single-family home sold in Saginaw, Michigan, doubled to $60,800. Prices in Akron, Ohio, climbed 90 percent to $95,300 and Grand Rapids, Michigan, recorded a 26 percent increase to $90,700.

Cities that led the nation in foreclosures a year earlier had the biggest price increases.

(READ the Bloomberg story in Business Week)