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by CareyBot

Home prices rose in the second quarter compared to the first quarter, but fell on a year-over-year basis, according to the latest Standard & Poor's/Case-Shiller National Home Price Indices report released today. The quarterly national index rose 3.6 percent in the second quarter to 130.1, after a reported "double dip" in the first quarter. That's a 5.9 percent decline compared to second-quarter 2010, taking home prices back to what they were in early 2003. The 20-city composite index rose 1.1 percent on a monthly, nonseasonally adjusted basis in June, to 141.3. On a seasonally adjusted basis, the composite remained essentially flat at -0.1 percent. The composite fell 4.5 percent year over year. None of the 20 cities in the composite posted monthly declines in June, and ...