<img src=" http://www.joplinglobeonline.com/images/zope/tuesday.gif" border=0> Home prices rise in most major cities in August

City wants to buy weather radios for those without

Phil Jones had been working on a construction project outside his house all day on May 22 and was unaware that a tornado watch had been issued. Once he was inside, though, his weather radio went off, and he learned that a warning had been issued.

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October 27, 2009

Anonymous The Joplin Globe Tue Oct 27, 2009, 08:07 AM CDT

NEW YORK (AP) — Home prices rise for the third straight month in August, signaling a housing recovery is taking hold.

The Standard & Poor’s/Case-Shiller home price index of 20 major cities released Tuesday rose 1 percent from July to a seasonally adjusted reading of 144.5. While prices are down 11.4 percent from August a year ago, the annual declines have slowed since February.

Prices are at levels not seen since August 2003 and have fallen almost 30 percent from the peak in May 2006.

The latest index shows a widespread turnaround with prices rising month-over-month in 15 metro areas since June. Industry experts, however, still worry that rising unemployment and foreclosures could stifle the rebound.

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