For the second consecutive month in June, U.S. home prices rose in all major cities tracked by the S&P/Case-Shiller home price index. The index's 20-city composite rose 2.3 percent in June, and it posted an annual return of 0.5 percent over June 2011.
Only two of the 20 cities tracked posted negative annual returns-Charlotte and Dallas. Detroit, Minneapolis, Chicago and Atlanta recorded the biggest one-month gains.
The national composite was up 1.2 percent in the second quarter of 2012 versus the second quarter of 2011, and was up 6.9 percent versus the first quarter of 2012.
"We seem to be witnessing exactly what we needed for a sustained recovery-monthly increases coupled with improving annual rates of change," David Blitzer, chairman of the Index Committee at S&P, said.
