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 today. The index covers metro areas that together make up about 50 percent of U.S. households. It measures sale prices of select homes in those cities compared with prices in January 2000. It then provides a three-month average. The April data is the latest available.
The sharpest increases were in Washington, D.C. The next-largest were in Seattle, San Francisco, and Atlanta.
It's much too early to tell if this is a turning point or simply due to the usual spring market increase. The only times in recent history when prices didn't see a spring uptick was in the thick of the crash. Remember there's still nearly 2 million foreclosures could hit the market over the next two years.
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