| | ArmandoMontelongo.com

Armando Montelongo Team Blog

Home Price Index Rises 0.9 Percent in July

A major index that tracks home prices in major U.S. markets went up for the fourth month in a row in July.

The S&P/Case-Shiller  Home Price Indices, considered the leading measure of U.S. home prices, increased by 0.9 percent for both the 10- and 20-city composites. The 20-city index is down 4.1 percent from a year ago and the 10-city index is down 3.7 percent.

In local markets, all but two of the metro areas in the 20-city index showed increases, with one unchanged.  The Case-Shiller index is released each month, using data from the three preceding months to establish the index number.

“With July’s data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices,” says David M. Blitzer, chairman of the index committee at S&P Indices.

Here are the index numbers for the 20 markets in the survey, with change from the previous month and from July 2010:

Users looking for more insight into long-term trends can download 24 years of data by going to the S&P/Case-Shiller Home Price Indices page and clicking on Home Price Index Levels for July 2011.

Join the conversation with the Armando Montelongo Companies at the company Facebook page and the Armando Montelongo Facebook fan page, as well as Twitter and YouTube.

Users now also can follow Armando Montelongo on Google+.