The S&P/Case-Shiller Home Price Indices shows home values up 0.2 percent in August for both the 10- and 20-city composites. Home values increased in ten of the 20 cities covered by the indices. It was the fifth consecutive month that at least half of the surveyed cities saw monthly gains. David Blitzer, chairman of S&P’s index committee, said, in addition to the monthly increase, 16 of 20 cities and both composites saw their annual rates of change improve in August, offering a glimmer of hope that the market may be stabilizing. Regionally, home prices in the Midwest have shown sharp monthly increases since May, despite being among the hardest hit markets during the housing crisis. More here and here.
