Home values in 20 U.S. metropolitan areas climbed in July by the most in almost four years, a sign the housing slump that led to the worst recession in seven decades is abating.
The S&P/Case-Shiller home-price index rose 1.2 percent in July from the prior month, the biggest gain since October 2005, the group said today in New York. From a year earlier, values were down 13.3 percent, less than economists anticipated. Another report showed consumer confidence unexpectedly fell.
Read Bob Willis’ full article “Home Prices in 20 U.S. Cities Rose by Most Since 2005” in Bloomberg (September 29, 2009).