Home price index rises in 18 of 20 metro areas

clipped from www.usatoday.com NEW YORK (AP) — Home prices posted their first quarterly increase in three years in the quarter that ended in June, adding to evidence that the housing slump is easing. The Standard & Poor's/Case-Shiller's U.S. National Home Price Index, out Tuesday, was up nearly 3% from the first quarter, though it was still down almost 15% from the second quarter last year. Home prices are at levels not seen since early 2003. Prices have fallen 30% from the peak in the second quarter 2006. The monthly index of 20 major cities increased 1.4% from May to June, second straight month the index registered a gain. All but two cities, Las Vegas and Detroit, saw home prices rise in June from May, and Dallas and Denver clocked their fourth-straight monthly increases. You might be interested in: Home prices fall a record 19.1% in year; declines slowing Home price decline slows in many places Home sellers frustrated as short-sale deals collapse Stock futures point to modestly higher open