Tuesday, June 28, 2011

Case-Shiller Index up slightly in April

It's still down compared to April 2010.   I think you saw a slight uptick in April compared to March due 1) lower mortgage rates 2) the middle of the buying season.
Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers.
Prices rose in 13 of the 20 cities tracked by the Standard & Poor's/Case-Shiller home-price index, according to the April report released Tuesday. Washington, D.C., saw the biggest price increases, followed by San Francisco, Atlanta and Seattle.
The index, which covers metro areas that include about 50 percent of U.S. households, rose 0.7 percent. It marked 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.
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