After eight consecutive months of decline, the Case/Shiller index of home values rose 0.7 percent in April from their March values. Prices were down 4 percent from last year’s values, however.
The Case/Shiller index is a 20 city collaberative index of home values that is used by experts much like the Dow Jones Industrial Average or the S&P 500. Of the 20 city index, the Metro Washington D.C. area proved to be the strongest, with a 3% increase. Since last year, prices are up 4% in that market.
The worst performing city was Detroit, where prices fell 2.9% from March to April. Since last year, the worst performing city is Minneapolis, where prices have fallen 11.1%.
