U.S. home prices up in July for third straight month

U.S. home prices in July rose for the third straight month, surpassing forecasts and suggesting that the housing market is stabilizing after a three-year plunge. The S&P/Case-Shiller composite index of house prices in 20 metropolitan areas rose 1.6 percent in July from June, more than triple the estimate of a 0.5 percent rise found in a Reuters poll. The index rose 1.4 percent the month before, S&P said on Tuesday. The 10-city index gained 1.7 percent in July after a 1.4 percent rise the previous month.

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