Home Prices are Up

[flip_it_fast]

I just read that home prices have made somewhat of a rebound. They have risen since March.

Home prices rose 0.8% in April and it is up 3.8% over last year in the same time period.

One thing that probably has a lot to do with it is the home buyers tax credit coming to a close. People wanted to jump in for that credit and so houses were selling slightly higher.

California has actually seen the largest rebound.

Some cities are still seeing declines though.

The biggest loser over the past 12 months has been Las Vegas, down 8.5%. Prices rose there 0.3% there month-over-month.
Only two cities saw values fall during the month. Miami prices fell 0.8% for the month, which pushed the city into negative territory for the year at -0.5%. New York dropped 0.3% month-over-month and is off 1% year-over-year.