Index shows home prices increase from April to May
The Associated Press
NEW YORK -- A widely watched index shows home prices posted their first monthly increase since the summer of 2006, indicating prices are finally stabilizing.
The Standard & Poor's/Case-Shiller home price index of 20 major cities released Tuesday rose 0.5 percent from April, but was still 17.1 percent below May a year ago.
The 10-city index rose 0.4 percent from April, but was off 16.8 percent from May last year. It was the fourth consecutive month both indexes didn't post record annual decline. Home prices are now at levels not seen since mid-2003.
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