They were the same cities that posted lows in January. Atlanta, Cleveland, Detroit, and Las
Vegas continue to have average prices below their January 2000 levels in the Standard
and Poor's/Case-Shiller home-price index.

Nationwide, home prices dropped in February in most major U.S. cities for a sixth straight
month, a sign that most price gains haven't been enough to boost prices.

Prices rose in Phoenix, San Diego and Miami and were unchanged in Dallas.

Las Vegas based SalesTraq which used different methodology than Case/Shiller, reported an increase
in median existing home prices for the last two months.Prices climbed to $103,000 in March, compared with
$100,800 in February and $100,000 in January.

Realtors are reporting multiple offers on properties as inventory has dwindled to about 6,000 homes available
without offers, due to the law in October that has all
but halted foreclosure filings.

Still, Realty Trac predicts that another one million homes will go into foreclosure this year, stirring concerns that prices will fall further as banks will push another wave of foreclosures onto the market.

That's what worries Scott Wagner. He is on the verge of purchasing a small house in the southwestern Las Vegas valley. It seems that houses that were priced at less than $200,000 in that area have risen in price by 25% in the last 3 months.

The steady price declines have brought the nationwide index to it's late 2002 level. Home prices have fallen 35% since the housing bust and in Las Vegas they are more than 60% off their peak.

The S&P Case/Shiller monthly index covers half of all U.S. homes and measures prices compared with those
of January 2000 and creates a three month moving average.