Home prices are showing continued improvement, but not at the pace seen before. The 10 and 20-City composites recorded annual declines of 8.5% and 9.4% respectively which is better than the double digit declines we were seeing.
Prices are now generally at the levels from Aug. 2003. One in 4 borrowers are still underwater on their mortgages . Las Vegas remains the most depressed market. Report to be released shortly.
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