Home prices in 20 American cities slumped in March compared to a year earlier, but the slide was the slowest since December 2010.
The S&P Case Shiller index of property values fell 2.6% after falling 3.5% in February.
Nationwide, however, prices were up month over month on a seasonally-adjusted basis – the first two-month streak since a tax credit for home-buyers expired in spring 2010.
The data signals a potential turnaround in the housing market, or, at the very least, signs of stabilization, analysts believe.
Home values in thirteen of the 20 cities showed year-over-year declines. Atlanta, which along with Chicago, Las Vegas, New York and Portland, Ore., reached new lows, suffered an 18% plunge.
Phoenix had the most substantial increase, with prices rising 6.1%. In California, values slid 4.8% in Los Angeles, nearly 3% in San Francisco and 2.7% in San Diego.