Quick little story in the CJ today titled Home Prices Rose in Most Major Cities in July. Here’s their basis:
The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose 1.2 percent from June to a reading of 143.05, according to seasonally adjusted data released Tuesday. Though home prices are still 13.3 percent below July a year ago, the annual declines have slowed in all 20 cities for the sixth straight month.
We’re still a little way from the values of two years ago, but this is another indicator that the housing market appears to have reached its bottom. I’ll be posting September data in few days.