The S&P/Case-Shiller home price index rose 10.8% in April, marking its smallest 12-month gain in more than a year. S&P Dow Jones Indices chairman of the index committee David Blitzer tells TheStreet's Joe Deaux that the latest index reading suggests the housing sector is returning to a more normal recovery. Boston home prices rose 2.9%, the most in the 27-year history of the index, while San Francisco rose 2.3% -- it's sixth straight month of gains. However, the index showed that Cleveland, Las Vegas, Miami, Phoenix, San Diego and San Francisco reported lower returns in April than in March.
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