The Standard & Poor's/Case-Shiller home-price index reported today that home prices rose in 13 of the 20 major cities in the US.
The index covers major metropolitan areas that include about 50 percent of U.S. households and showed a 0.7 percent increase which was the first since July 2010.
Chairman of Standard & Poor's index committee, David M. Blitzer, did offer a word of caution stating that while the price index did increase and that it was a nice change from the last several months he did indicate that most of this improvement could likely be from the traditional spring and summer home-buying seasons.