U.S. home prices rose in June from the same month last year, according to the Standard & Poor's/Case-Shiller home price index released Tuesday.
Steady increases have contributed to a housing recovery that began earlier this year. And most markets are being affected by foreclosures.
Bank-owned homes typically sell at a sharp discount, weighing down the values of nearby homes. In markets where the supply of bank-owned homes for sale has declined, investors and other buyers will often drive up prices on the few properties that hit the market.
Here are the top five cities that have recorded home price gains over the past year and the five that have posted the steepest declines in the same period (Source: Standard & Poor's/Case-Shiller, DataQuick, RealtyTrac Inc., Zillow Inc.):