More positive news for housing this morning, with Standard & Poor’s Case Shiller report showing that home prices rose 2.2 percent and 2.3 percent in its 10-city and 20-city composite indices in June. The two composites also saw year-over-year gains, with the 10-city index up 0.1 percent and the 20-city index 0.5 percent higher compared to June 2011.
For the second consecutive month, all 20 cities and both composites recorded positive monthly gains, and 18 of the 20 MSAs and both composites posted better annual returns in June as compared to May 2012 (only Charlotte and Dallas saw a deceleration in their annual rates).
"We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change," said David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices. "The market may have finally turned around."
Here's a breakdown of the data through June 2012:
For the full report, click here for a PDF copy.
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