Case-Shiller home price gauge up for fourth month

WASHINGTON (MarketWatch)
U.S. home prices rose for the fourth month in a row in July, according to the S&P/Case-Shiller 20-city composite released Tuesday.
Prices rose 0.9% on a monthly basis, narrowing the year-on-year loss to 4.1%.
Detroit and Washington D.C. were the only two cities posting annual price gains, while Minneapolis saw the worst fall with a 9.1% annual drop.
David Blitzer, chairman of the index committee at S&P Indices, said the U.S. is still far from a sustained housing recovery, which would require continued house price gains through the end of the year and better annual results.