US house prices rose in the second quarter of this year, notching their first quarterly increase in three years, and climbed for the second month running in June, offering hope that stricken real estate market is on an upswing.
Home prices rose by 2.9 per cent in the second three months of the year compared with the first quarter of 2009 and were up by 1.4 per cent from May to June, according to the closely watched Case-Shiller index, released on Tuesday. The result was better than economists expected and added to mounting evidence that the market has stabilised.
