Home Prices on an Upswing in the Second Quarter of 2009

The Case-Shiller index released today shows that in many of the 20 metro areas tracked, home prices have stopped their free fall.

The S&P/Case-Shiller 20-city home price index and 10-city home price index both rose 1.4% in June, more than twice the rate of increase seen in May.

David Blitzer, Chairman of the Index Committee at Standard and Poors said “This is the first time we have seen a positive quarter-over-quarter print in three years.”