The latest data on home prices from S&P/Case-Shiller
was just released. It showed prices down 13.3% in July from a year earlier in the 20 metropolitan areas tracked by the group. That was a smaller rate of decline than the market was looking for (-14.2%) and a smaller decline
than we saw in June (-15.4%). On a monthly basis, prices rose 1.61%. That was the third gain in a row after a multi-month string of losses.