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More Positive News On Housing: Prices Rose For Third Straight Month

A home for sale in Los Angeles last month. Kevork Djansezian/Getty Images hide caption

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Kevork Djansezian/Getty Images

A home for sale in Los Angeles last month.

Kevork Djansezian/Getty Images

Home prices rose in July from June by 1.5 percent in its 10-city index and 1.6 percent in the 20 major cities where it tracks changes, the latest S&P/Case-Shiller Home Price Indices report shows.

According to the report:

"For the third consecutive month, all 20 cities and both composites recorded positive monthly changes. It would have been a fourth had prices not fallen by 0.6% in Detroit back in April."

"All in all, we are more optimistic about housing. Upbeat trends continue," says economist David Blitzer, the chairman of the index committee at S&P Dow Jones Indices.