The recovery in the housing market is still alive, barely, according to data released Tuesday.
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Home Prices in Selected Cities, Through November 2009 Home prices eked out a 0.2 percent gain in November on a seasonally adjusted basis, according to Standard & Poor’s Case-Shiller Home Price Index.
“There is no clear sign of a sustained, broad-based recovery,” David M. Blitzer, chairman of the Index Committee at S.& P., said in a statement.
The 20-city composite is down 29.2 percent from its peak in the second quarter of 2006 and 5.3 percent over the last year. Average home prices are now where they were in late 2003.
Data from 15 of the cities rose in November from the previous month, while five fell. The strongest cities were on the West Coast, including San Francisco, San Diego and Los Angeles. The five that fell included Chicago, Miami and New York.
Seasonal adjustments made the market seem stronger, noted Maureen Maitland, vice president for index services at S.& P. On an unadjusted basis, 13 of the cities turned down, while the composite fell 0.2 percent.
“The winter pause that people thought was going to happen seems to be happening,” Ms. Maitland said.
The pricing data lags by one month the sales data. November home sales were unusually strong, thanks to the rush to take advantage of the government’s tax credit. But December sales, released Monday, fell sharply.
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