Home prices increase in July.
The Standard & Poor’s/Case-Shiller index reported today that home prices increased in July from June in 17 of the 20 cities tracked.
“This is still a seasonal period of stronger demand for houses, so monthly price increases are expected,” said David M. Blitzer, chairman of Standard & Poor’s index committee. “While we have now seen four consecutive months of generally increasing prices, we do know that we are still far from a sustained recovery.”
Also, eighteen of the 20 cities that the Case-Shiller report analyzed show home prices are still below where they were a year ago. The 10-City composite is down 3.7 percent and the 20-city composite is down 4.1 percent compared to July 2010.
Here in San Diego County home prices rose a tiny0.1 percent in July compared to August, but fell 4.1 percent compared to July 2010.
