U.S. sees home prices go up for first time since 2006

07/29/2009 | NYTimes.com

Home prices rose in the U.S. in May, the first improvement in three years, according to the Standard & Poor's/Case-Shiller Home Price Index. After a 0.6% drop in April compared with March, the index, which follows home prices in 20 metropolitan areas, rose 0.5% in May compared with April. "This could be an indication that home-price declines are finally stabilizing," said David M. Blitzer, chairman of S&P's index committee.

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