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Survey: Local home prices hit records in summer

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By Julie Schmit USA Today
Tuesday, Oct. 9, 2012, 12:01 a.m.

As home prices begin to edge up after largely falling for years, prices in a smattering of cities are at all-time highs, new data show.

More than 100 metropolitan areas hit their peak home prices in July and a few in June, according to data through July from mortgage tracker Lender Processing Services. Those areas include Pittsburgh and Anchorage.

Fifty other areas are within 2 percent of their previous peaks, LPS' home price index shows. Examples: Austin; Denver and Boulder, Colo.; Indianapolis; and Portland, Maine.

Some of the markets have risen in tandem with growing local economies, especially those built on strong energy and agricultural business.

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