Spring buying boosts home prices in 13 U.S. cities
Wednesday, June 29, 2011
Home prices in most major U.S. cities are rising for the first time in eight months, boosted by an annual wave of spring buying. Analysts cautioned that the increases may be temporary and don’t signal a rebound for the depressed home market.
Prices rose in 13 of the 20 cities tracked by the Standard & Poor’s/Case-Shiller home-price index, according to the April report released Tuesday.
In the Portland metro area, April home prices were down 9.2 percent from a year earlier, though up 0.1 percent from March, according to the index. Clark County’s median home price ticked up 2.4 percent in April then fell 2.5 percent in May, according to data from appraisal firm Riley & Marks.