Portland, U.S. home prices up in May

By: Nathalie Weinstein//July 27, 2010//

Portland, U.S. home prices up in May

Nathalie Weinstein//July 27, 2010//

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Home prices in Portland increased slightly between April and May, according to .

The S&P/Case-Shiller Home Price Index tracks prices for typical single-family homes in metropolitan areas throughout the U.S. In Portland, home prices increased 1.2 percent between April and May. The slight uptick follows a 1.8 percent increase in home prices between March and April.

Though the May increase appears positive, David M. Blitzer, chairman of the index committee at Standard & Poor’s said in the report that home price levels across the past year still do not indicate continued recovery for the housing market. The housing market will continue to see some impact from the homebuyers’ tax credit through June 30, Blitzer said, but watching where the market goes after that time will paint a more realistic picture of the market.

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