US home prices rose in all major US cities in June - WALB.com, Albany News, Weather, Sports

US home prices rose in all major US cities in June

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By MARTIN CRUTSINGER
AP Economics Writer

 WASHINGTON (AP) - U.S. home prices rose in June from May in every city tracked by a leading index, an encouraging sign that the housing market is improving.

 The Standard & Poor's/Case-Shiller home price index showed increases in all of the 20 cities tracked for a second consecutive month.

A measure of national prices rose 2.3 percent in June from May, the third straight increase. And home prices jumped nearly 7 percent in the April-June quarter from the previous quarter.

 All but two cities in the national composite posted stronger gains in June than May. Detroit, Minneapolis, Chicago and Atlanta recorded the biggest one-month gains.

 The increases partly reflect the impact of seasonal buying. The month-to-month prices aren't adjusted for seasonal factors.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)