Home Prices Increase: Case Shiller Index

The Case Shiller Home Price Index released today showed U.S. home prices rose on a monthly basis for the first time since July 2006. The 20 city index showed gains in May of 0.5% with 13 cities posting increases.

It's too early to determine if this is the start of the bottom in housing but with Inventory levels falling and New home sales rising by 11 per cent in June to a seasonally adjusted annual rate of 346,000, the worst may well be over.