Walden Mortgage Weekly Newsletter: August 7, 2012
Home Prices Rise for Fourth Straight Month:
Home prices rose for the fourth month in a row in May, suggesting the recovery in the housing market continued to gain traction. The S&P/Case-Shiller composite index of 20 metropolitan areas gained 0.9 percent in May from April on a seasonally adjusted basis, topping economists' expectations for a 0.5 percent gain. On a non-seasonally adjusted basis, prices fared even better, jumping 2.2 percent. Compared to a year ago, price declines moderated to slip 0.7 percent, the smallest drop since...