Index shows home prices increase from June to July

NEW YORK - A closely watched index of home prices shows year-over-year improvement for the sixth month in a row and prices in all 20 cities rose from June to July.

The Standard & Poor's/Case-Shiller home price index of 20 major cities released Tuesday rose 1.2 percent from June. Though home prices are still 13.3 percent below July a year ago, they have risen for three months straight.

The index is down about 33 percent from the peak in mid-2006. Home prices are now at levels not seen since the third quarter of 2003.