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The S&P/Case-Shiller Home Price Indices though July 2011 showed its fourth consecutive month of increases, with both the 10- and 20-city composites up 0.9 percent in July over June. David M. Blitzer, chairman of the Index committee at S&P Indices, said July’s data shows fairly broad improvement in the annual rates of change in home prices, along with anticipated monthly increases. Some price gains are expected during spring and summer due to seasonal demand. Still, 17 of the 20 cities tracked by S&P showed monthly increases and 14 of the 20 cities saw their annual rates of change improve in July. Blitzer said, despite four consecutive months of rising prices, home values would have to continue to climb through the end of the year before it can be called a sustained recovery. More here.
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