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Index shows home prices increase from April to May
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.
July 28, 2009 - 8:08 a.m. CDT
Copyright 2009, The Associated Press
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