Markets that demonstrated year-over-year growth include Charlotte, Cleveland and Las Vegas, though all three remain in negative territory. Meanwhile, in relatively robust markets such as Los Angeles, San Diego and San Francisco, annual growth rates slowed -- more evidence that a variety of factors are dragging down home price growth.
It is now abundantly clear that the housing market has not succeeded in holding onto the momentum provided by the now-expired homebuyer tax credits. Persistently high unemployment is another factor responsible for the drag.
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