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.
Home prices in Portland were 3 percent higher than the previous year, according to the survey. The June numbers were 2.5 percent higher than May.
Rebecca Galloway / OPB
A "sale pending" sign in Northeast Portland in spring of 2012.
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.
