National

Dec 29, 2009 10:06 AM by Associated Press

Home prices rise in October

Home prices rise for the fifth month in a row in October, but the recovery continues to be uneven with only 11 of the 20 metros tracked showing gains.

The Standard & Poor's/Case-Shiller home price index released Tuesday edged up 0.4 percent to a seasonally adjusted reading of 145.36 in October.

The index was off 7.3 percent from October last year. The index is now up 3.4 percent from its bottom in May, but still almost 30 percent below its peak in April 2006.

Eleven of the 20 cities posted month-over-month gains with San Francisco and Detroit posting the largest increases. Dallas recorded a flat reading for the month, while Tampa and Chicago had the largest declines.

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