Washington, DC, Sept. 25, 2012 -- U.S. home prices rose in July for the fourth straight month to reach their highest level in nearly two years, according to the S&P/Case-Shiller 20-city composite index.
The measure posted a 1.6% increase in July after a 2.3% advance in June. And home prices are now up 1.2% compared to one year earlier.
For the third month in a row, all 20 cities in the index recorded prices increases.
Despite the recent increase in prices, homes still sell for about 30% less compared to the market's 2006 peak.