The month of May saw home prices rise for the fourth month in a row even with the economy on shaky ground. “Real estate continues to show improvement off the bottom,” said Subodh Kumar, an investment strategist. “That’s one of the few encouraging signs we’ve seen.” Prices jumped 2.2%. Compared to last year, prices declined just 0.7%—the smallest drop since year-over-year prices last increased in September 2010. But the good times might not last. “The most likely scenario is that home prices will zigzag over the coming months, rising during the selling season, and slipping in the fall,” said Michelle Valverde, U.S. economist at HIS Global Insight.
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Rising home prices show traction in housing recovery (Reuters)
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