Crash In US Home Prices May Resume
Buyers rush to meet tax deadline as US home prices edge up 0.8 per cent in April
NEW YORK, N.Y. - American home prices in April rose for the first time in seven months as government tax incentives helped to bolster the housing market.
The Standard & Poor's/Case-Shiller 20-city home price index released Tuesday posted an 0.8 per cent gain. It had fallen in each of the past six months.
Eighteen of 20 cities showed price increases month over month. Only Miami and New York recorded price declines.
The gains highlight the impact of the federal tax credits for homebuyers. Buyers rushed to purchase before the tax credits expired at the end of April.
Nationally, prices have risen 3.8 per cent from their April 2009 bottom. But they remain 30 per cent below their July 2006 peak.
Interview and discussion with Laurie Goodman of the Amherst Securities, talking about the housing market.
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