While you were sleeping: US home prices show strength

Tue, 26 Jun 2012

By Margreet Dietz June 27 (BusinessDesk) - Wall Street recovered from yesterday's declines, helped by data showing US home prices rose for a third straight month in April, underpinning hopes the industry is finally offering more convincing signs of recovery. The S&P/Case Shiller composite index of 20 metropolitan areas rose 0.7 percent on a seasonally adjusted basis, surpassing expectations for a 0.4 percent increase. "The housing recovery in this cycle has been painfully slow to develop, but it is unmistakably here," Chris Low, chief econom...

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