Real Estate, Tax Credit For First-time Homebuyers | featured news

A 3.8% increase in April compared with the same period last year is the third straight month of appreciation but analysts say prices are likely to drop again with the end of the tax credit. L.A., San Diego see gain of 0.7%.

Home prices in 20 major cities gained ground for the third consecutive month in April when compared with their year-earlier levels.

Sales of previously occupied homes dipped 2.2 percent in May, suggesting government home-buying incentives are winding down earlier than anticipated.

Extending the homebuyer tax credit won't avoid a possible double-dip, only delay it.

Home prices rose in nearly 60 percent of U.S. cities in the first quarter of this year, as the housing market started to stabilize thanks to billions of dollars in federal spending.