Home Prices Fall Less Than 1 Percent Month Over Month

According to the S&P/Case-Shiller composite index of 20 metropolitan areas, home prices declined 0.2 percent in March from February. The report shows prices are at mid-2002 levels and slipped in 18 of the 20 cities tracked. Despite a slowly recovering economy, home values are under pressure from excess inventory, particularly in cities that suffered badly from high unemployment and the foreclosure crisis. The Case-Shiller index measures sales prices of homes in select cities compared with January 2000. The index offers a three-month moving average price. More here.

Pending Sales Show Effects Of Economic Soft Patch

Pending home sales fell in April after two consecutive months of gains. According to the National Association of Realtors’ Pending Home Sales Index, pending sales, which reflect contracts not closings, dropped 11.6 percent from March. Lawrence Yun, NAR’s chief economist, said the economy hit a soft patch in April due to sharply rising oil prices, severe weather, and a rise in unemployment claims, which may have caused the dip in contracts. Yun believes the decline is due to temporary factors and, even with favorable affordability conditions and pent-up demand, the housing recovery will continue to be uneven. More here.

Can canceling your credit card hurt your score?

Here is a great question and answer session from Jean Chatzky, NBC’s Financial Editor. Once question was how canceling your current credit card and opening a new one can effect your credit score.

Watch and learn how you can protect your score and still get that great deal on a new credit card.

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Want to hear more about what Jean Chatzky has to say about your credit? What these free videos here.