Standard & Poor’s/Case Shiller Home Price Indices, the most closely followed of the many price indexes, showed a second consecutive month of price gains for both their 10- and 20-city composites in May. The 10-city composite index was up 1.1 percent and the 20-city composite rose 1.0 percent. David M. Blitzer, chairman of the index committee at S&P Indices, said that the improvements in May were partly due to expected seasonal gains, as there is typically stronger demand for houses in spring. Prices rose month-over-month in 16 of the 20 cities tracked. The past two months of price increases follow an eighth-month period of declines. More here.

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