Home prices rise in major U.S. cities
By CHRISTOPHER S. RUGABER
Washington — The Associated Press
Market correcting in the United States.
Home prices rose in May from April in every city tracked by a leading index, a sign that increasing sales and tight inventories are supporting a modest housing recovery.
The Standard & Poor’s/Case-Shiller home price index released Tuesday showed increases in all of the 20 cities tracked. And a measure of national prices rose 2.2 per cent from April to May, the second increase after seven months of flat or declining readings.