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Summer real estate market cools off

Altos: Rising inventory, short-term price trends mark shift

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The seasonal price bump many markets experienced in the spring appears to have cooled off, according to a report from real estate data firm Altos Research.

Last week, the Standard & Poor's/Case-Shiller National Home Price Index for May showed that 16 out of the 20 markets tracked saw monthly price increases, with the 20-city composite up 1 percent. On an annual basis, however, only Washington, D.C., saw a gain, up 1.3 percent, and the 20-city composite was down 4.5 percent.

An index released today by data and valuation firm ....