Arizona home prices increase slightly in June
By Adam Lyons in : News // Jun 29 2010
NEW YORK – Home prices in April rose for the first time in seven months as government tax credits bolstered the housing market. But the rebound may be short-lived now that the incentives have expired.
Last week, the government reported that new home sales fell in May to their lowest level on record, plunging 33 percent from the month before. And sales of previously occupied homes edged down 2.2 percent.
The Standard & Poor’s/Case-Shiller 20-city home price index released Tuesday posted an 0.8 percent gain. It had fallen in each of the past six months.
Eighteen of 20 cities showed price increases in April from March. Washington, San Francisco and Dallas each posted gains of 2 percent or more. Eleven cities reversed their declines from the month before.
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