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Queen City home prices climb

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Springfield home prices grew in August, according to data released today by real estate market tracker CoreLogic.

During the month, prices that included distressed sales - which factor in short sales and real estate-owned transactions - moved up 2.6 percent compared to the same month last year. Prices ticked up 0.3 percent compared to July 2015, according to a news release.

In Missouri, single-family home prices improved 3.5 percent compared to August 2014.

Including distressed sales, U.S. home prices rose 6.9 percent in August compared to the same month a year earlier. Compared to July, they were up 1.2 percent, according to the release.

"Continued gains in employment, wage growth and historically low mortgage rates are bolstering home sales and home price gains, said Anand Nallathambi, president and CEO of CoreLogic, in the release. “In addition, an increasing number of major metropolitan areas are experiencing ever-more severe shortfalls in affordable housing due to supply constraints and higher rental costs.

“These factors will likely support continued home price appreciation in 2016 and possibly beyond."

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