Home Prices Increase, for a Change |
| New York Times - Jun 28, 2011 |
Home prices in major United States cities have risen for the first time in eight months, lifted by an annual flurry of spring buyers.
The Standard & Poor’s Case-Shiller home-price index reported Tuesday that prices in April rose in 13 of the 20 cities tracked. Washington saw the biggest price increases, followed by San Francisco, Atlanta and Seattle.
Still, six metro areas are at their lowest levels in the nearly four years. Those markets are Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa.
In the previous month, home prices in big metro areas sank to their lowest since 2002. Since the real estate bubble burst in 2006, prices have fallen more than they did during the Great Depression.
The index, which covers metro areas that include about half of American households, rose 0.7 percent, the first increase since July. The index measures sales of select homes in those cities compared with prices in January 2000 and provides a three-month average price. The April data is the latest available.
Read Full Article from New York Times
- Posted: 2011-06-28 12:14:19
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