Tuesday, November 24, 2009

Home prices rise for 4th month in a row

AP Photo

From an AP story:

Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the housing market recovery is continuing.The Standard & Poor's/Case-Shiller home price index of 20 major cities released Tuesday rose 0.3 percent to a seasonally adjusted reading of 144.96 in September. Prices rose month-over-month in 11 metro areas, a weaker showing than in recent months.Compared with a year earlier, prices were down 9.4 percent, the smallest year over year decline since January 2008."We have seen broad improvement in home prices for most of the past six months," David M. Blitzer, chairman of the Standard & Poor's index committee. "However, the gains in the most recent month are more modest than during the seasonally strong summer months."