Summary Box: Median home prices rose in more than 40 pct of US metro areas in 4th-Qtr of 2009
By APThursday, February 11, 2010
Summary Box: Home prices stabilizing
WHAT HAPPENED?: Home prices rose in more than 40 percent of U.S. cities in the fourth quarter of last year. That’s a sharp improvement from the third quarter, when prices rose in only 20 percent of cities.
WHAT DOES IT MEAN?: The government fueled the housing market last year by spending to lower mortgage rates and offering tax credits of up to $8,000 for first-time buyers. As a result, sales surged and prices stabilized.
WHAT’S NEXT: How long the housing rebound can continue remains to be seen. There are concerns it will falter when the government’s support ends this spring.
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