(Source: CoreLogic)

Home prices nationwide began to stabilize in the second half of 2011, a positive indicator for consumer spending, according to a report by CoreLogic released today. In May 2011, excluding distressed sales, the Housing Price Index only dropped 0.4 percent, compared to a decline of 7.4 percent for the Housing Price Index for all transactions. Another positive sign, the report says, is that the Housing Price Index, which even including distressed sales, increased between March and April, for the first time in more than six months, and continued up between April and May.
– Miranda Neubauer [more]