It may be due to June being a big month for home sales but but housing prices dropped less in June than they had for the previous 10 months. Here are some excerpts from a recent Bloomberg article on this subject:
U.S. home prices had the smallest annual drop in 10 months, signaling the free fall of property values is abating in the three-year housing slump at the center of a global recession.
Prices declined 5.6 percent in May from a year earlier and rose 0.9 from April, the Federal Housing Finance Agency in Washington said today. Economists expected a 0.2 percent drop for the month, according to the median of 16 estimates in a Bloomberg survey.