The June S&P/Case-Shiller home price index shows that home prices have risen nationwide — in every one of the 20 metro areas covered by the index. Nationwide it’s up a half percent. That’s not much, until you consider that this is the first time since September 2010 that it increased — and 9/’10 was smack in the middle of the homebuyer tax credit bump.
Also: This is the second time that every city in the index has shown a month over month gain.
Writes CNBC: “The increase is the latest evidence of a nascent recovery in the housing market.” At this point, I think we’re past using the word “nascent.” The recovery has been going on for quite a while, even if CNBC didn’t notice it till recently.