Third straight month prices rose in all markets There's more evidence the long-suffering housing market may be poised for a turnaround.
Home prices in 20 major cities rose an average of 1.6 percent in July, according to the S&P/Case-Shiller home index. It's the third straight month prices were up in all 20 markets tracked by the index.
David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, said the new report shows "upbeat trends continue."
"Single family housing starts are well ahead of last year’s pace, existing home sales are up, the inventory of homes for sale is down and foreclosure activity is slowing," he said. "All in all, we are more optimistic about housing."
July prices are the best we've seen in nine years, when the market was on the way to its peak in 2006.
