“While there is some pent-up demand for homes, continued gains in sales are more reliant upon the job market and income gains than not,” says Keith Gumbinger, vice president at mortgage and loan information publisher HSH.com, in an email to U.S. News. “With those tepid at best, it’s more likely to be a sluggish recovery as we go forward, especially if rates and prices both remain firm.” [ OPINION: What New Home visit here Size Data Tells Us About the State of U.S. Housing ] Still, it’s hard to generalize about national home price data when the market is so uneven across markets. Cities in California and the Southwest continue to show plenty of room for growth. Las Vegas’ home prices grew by 27.5 percent annually in July, San Francisco’s jumped by 24.8 percent, and Los Angeles home prices grew by 20.8 percent.
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