WASHINGTON (AP) — Home prices rose slightly in September, the fourth straight monthly increase and a clear sign the housing market recovery is continuing.
The Standard & Poor's/Case-Shiller home price index of 20 major cities released Tuesday rose 0.3 percent to a seasonally adjusted reading of 144.96 in September. Prices rose month-over-month in11 metro areas, a weaker showing than in recent months.
"We have seen broad improvement in home prices for most of the past six months," David M. Blitzer, chairman of the Standard & Poor's index committee. "However, the gains in the most recent month are more modest than during the seasonally strong summer months."
Industry experts, however, still worry that rising unemployment and foreclosures could stifle the rebound in prices.
Copyright 2009 The Associated Press.
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