Home prices rose 0.6 percent in July over June and were 3.2 percent higher compared with a year earlier, according to the S&P/Case-Shiller Home Price Indices. David M. Blitzer, chairman of the index committee at Standard & Poor’s said, based on the recent behavior of the housing market, home prices are more likely to remain stable than to return to the heights reached in 2005-2006. Blitzer feels the strength of the housing market will become clearer in the next few months. Prices rose in 12 of the 20 largest metropolitan areas in July and half saw year-over-year gains. More here, here, and here.