Home prices increased by 9.3 percent, their largest annual margin in nearly seven years. But experts warn that a backlog in some markets could keep home prices low for the foreseeable future.
Home prices in some cities show some signs of stabilizing. But in Atlanta, the decline in home prices is accelerating.
Home prices in the top 20 housing markets were down 3 percent in January from a year ago. The slide in home prices is accelerating.
Reversing four months of gains, a key US house price index fell modestly in August, and some economists see more declines ahead. But the index is still well off the recession's low point.
US home prices were up 0.8% but government tax credits bolstered the housing market and incentives have expired.
Home prices unexpectedly climbed in April from March, driven by tax credit push. Signs of a sustained recovery have yet to emerge.