Here's news many U.S. homeowners have been eagerly waiting to hear:

Prices of single-family homes rose in May from April, the first such monthly improvement since the summer of 2006, according to the S&P/Case-Shiller Home Price Indices.

It wasn't much of an increase — 0.4% or 0.5% depending on the indice. And prices are still down about 17% from May 2008.

But, says David M. Blitzer, chairman of the Index Committee at Standard & Poor's, in a statement:

"This could be an indication that home price declines are finally stabilizing".