Housing Notches Gains

The latest S&P/Case-Shiller index shows that home prices increased 0.9 percent between April and May in the nation’s 20 biggest metro areas — the fourth month in a row of improvement. Maureen Maitland of S&P Indices states, “The markets that collapsed earliest are the ones that are beginning to see relative strength in the spring,” including Las Vegas, Miami, and Tampa. On a year-over-year basis, the size of the declines continues to narrow. In May, prices were down an average of 0.7 percent from the same month a year earlier — the smallest annual drop since September 2010. | Read More