Housing Prices Rise Nationwide; Fall in Las Vegas - 8 News NOW

Housing Prices Rise Nationwide; Fall in Las Vegas

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WASHINGTON -- Home prices rose for the second straight month in most major U.S. cities and are stabilizing after years of declines, while prices in Detroit, Las Vegas and Tampa, Fla. -- three cities hit hardest by the housing crisis -- fell to their lowest points since the recession began.

Analysts say the overall upswing in prices hardly signals a rebound for the troubled housing market. A flurry of spring buyers is helping boost sales. At the same time, millions of foreclosures are in limbo, awaiting the results of a government investigation into improper practices by mortgage lenders. Once that probe is complete, banks will resume seizing homes and prices will likely fall again.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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