April Home Prices Up Over March

New York, NY, June 26, 2012 -- U.S. home prices rose 1.3% in April from March in both the 10- and 20-city composites, according to the Standard & Poor's Case-Shiller home-price index.

On a year-over-year basis, the index of 10 major metropolitan areas was down 2.2% in April, while the 20-city index was down 1.9%.

“With April 2012 data, we finally saw some rising home prices,” says David M. Blitzer, chairman of the Index Committee at S&P Indices.

"It has been a long time since we enjoyed such broadbased gains. While one month does not make a trend, particularly during seasonally strong buying months, the combination of rising positive monthly index levels and improving annual returns is a good sign."