Home prices in 20 major cities fell an average 0.6% in April, an improvement over the 2.2% decline the prior month, according to the Case-Shiller index produced by Standard & Poor's and released today.
It has been 13 months since any area experienced year-over-year price gains, but nine cities avoided month-to-month declines, up from just three last month. Dallas, Denver and Cleveland posted increases greater than 1%, while Washington, San Francisco, Boston, Atlanta and Seattle posted moderate rises.
In the Portland market, home prices averaged 146.85% of what they were in January of 2000. This is a decrease of 16% from one year ago. The worst performing is Phoenix where home values have decreased over 35%.
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