Home Prices See First Annual Increase Since 2006

According to the Standard & Poor’s/Case-Shiller Home Price Indices, home prices posted their first annual increase in three years. S&P’s 10-city index was up 1.4 percent from February 2009 and the 20-city index was up 0.6 percent. Despite the year-over-year gains, David Blitzer, chairman of the S&P index committee, warned that it’s too early to say the market is recovering. Home prices are up 3 percent from their bottom, but are still down more than 30 percent from their 2006 peak. More here and here.

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