Home prices rise nationally for fifth straight month

Home prices rose for the fifth month in a row in October, but the recovery continues to be uneven, with only 11 of the
20 metro areas tracked showing gains.

The Standard & Poor’s/Case-Shiller home price index released Tuesday
edged up 0.4 percent, to a seasonally adjusted reading of 145.36 in October from September. The index was off 7.3 percent
from October last year, nearly matching expectations of economists surveyed by Thomson Reuters.

The index is now
up 3.4 percent from its bottom in May, but still almost 30 percent below its peak in April 2006.

San Francisco
and Detroit posting the largest increases. Dallas recorded a flat reading for the month, while Tampa and Chicago had the largest
declines.

Indianapolis is not one of the metro areas tracked by  the index.

"Coming after
a series of solid gains, these data are likely to spark worries that home prices are about to take a second dip," David
Blitzer, chairman of the index committee at Standard & Poor’s, said in a statement. That happened in the early 1980s,
he said, and the current housing recovery appears more solid.

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