Residential real estate prices could be stabilizing
Residential real estate prices decreased in the year ended in June at a slower pace than in the prior month, a sign the market may be stabilizing, Bloomberg reported. The S&P/Case-Shiller index of property values in 20 cities fell 4.5 percent from June 2010 after a 4.6 percent drop in the 12 months ended in May that was the biggest since 2009. Values fell by 0.1 percent in June from the prior month after being adjusted for seasonal changes, matching the decrease in May, indicating the deterioration is slowing.
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