Standard & Poor’s/Case-Shiller report shows housing prices up

According to the recently-released Standard & Poor's/Case-Shiller report, housing prices have risen in every district in June.

The report provides an extensive look into June's home prices as compared to the previous month, and every month dating back to January of 1987. The home prices of 20 major markets across the country are cataloged to track the progress of the housing market.

The increase of home prices in every district is heartening, especially after a few months in 2011 when prices in most districts took a fall. The non-seasonally-adjusted national composite home price was 132.54 in the second quarter, up from 124.03 in the first.

All 20 surveyed districts reported increased home prices for the second consecutive month. Eighteen out of 20 districts reported increased annual rates over last year, and more than half also reported positive annual rates of change.

According to David Blitzer, chairman of the index committee at S&P Dow Jones Indices, the increase in monthly gains combined with the general trend of positive rates of change bodes well for the future of the housing market.

Rental property management officials should not be discouraged by the growing housing market, however. The growth will be slow and labored, according to most experts, and the rental market should retain its boon at least through 2014.