Wednesday, August 11, 2010

100+ Cities See Home Prices Gain: Boise Not Among Them

Posted By on Wed, Aug 11, 2010 at 9:59 AM

Boise bucked the national trend in the second quarter of 2010, with home prices continuing to decline.

With new federal tax credits of as much as $8,000, home prices rose in more than 100 U.S. cities, according to the National Association of Realtors. Prices climbed 36 percent in Akron, Ohio; 26 percent in San Jose, Calif.; and 25 percent in Sn Francisco. Overall, the average U.S. home price rose 1.5 percent to $176,900.

A handful of cities went in the other direction: Cumberland, Md., dropped 15 percent; Tucson, Ariz. dipped 14 percent, and Boise fell 13 percent.

The federal homebuyer tax credit required people to sign contracts by the end of April and close their sales by June 30. Congress extended the deadline through September.

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