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ational home values in the United State rose for the third month in a row in May, climbing 0.5% from April, the latest Zillow home price index shows.

But prices are still falling on an annual basis, down 0.9% compared to May 2011 although this is the smallest year on year decline since October 2007.National rents also rose from April to May, increasing 1.8%, according to the Zillow Rent Index with rents increasing on a monthly basis in 77% the index.The greatest increase was seen in the Phoenix metro area, up 9% annually and 1.9% from April to May. In the Miami-Fort Lauderdale metro area values rose 5.2% year on year and 2.2% month on month.