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by CareyBot

U.S. home prices rose slightly on a monthly basis in April, the first such increase since the expiration of a federal homebuyer tax credit program in mid-2010, according to data aggregator CoreLogic. A home-price index compiled by CoreLogic showed national home prices in April up 0.7 percent month-to-month. On a year-over-year basis, however, prices were down 7.5 percent -- an even steeper annual decline than in March, when the index fell a revised 6.8 percent. When distressed sales -- short sales and REOs (bank-owned homes) -- are excluded from the index, however, the index showed home prices declining year-over-year by 0.5 percent in April and 1.6 percent in March. "While the economic recovery is still fragile and one data point is not a trend, the month-over-month increase based ...