US Home Prices Continue To Rebound
U.S. home prices rose in July from a month earlier, according to the S&P Case-Shiller home-price indexes, with just two of 20 metropolitan areas showing declines.
They were Las Vegas, one of the nation's most-battered markets, and Seattle. By contrast, 13 of the top 20 markets measured have had price gains for at least three straight months.
David M. Blitzer, chairman of S&P's index committee, said the rate of annual decline in home price values continues to decelerate, "and we now seem to be witnessing some sustained monthly increases across many of the markets."
Fourteen of 20 major metropolitan areas posted price declines of more than 10% from a year earlier. As of July, the 10-city index is down 33.5% from its mid-2006 peak, and the 20-city index is down 32.6%....more inside