US Home prices climb on tax credit
Category Economy | Tuesday, June 29th, 2010(Reuters) – Single-family home prices unexpectedly climbed in April from March, driven by a final sales push before tax credits expired, but signs of a sustained recovery have yet to emerge, Standard & Poor’s/Case Shiller home price indexes showed on Tuesday.
“Inventory data and foreclosure activity have not shown any signs of improvement,” David Blitzer, chairman of S&P’s index committee, said in a statement. “Consistent and sustained boosts to economic growth from housing may have to wait to next year.”