S And P Case Shiller Indexes Show Rising Home Prices.The S and P Case Shiller home prices indexes have reported gains, of sorts, in home prices. The price indexes in February showed a rise in home prices compared with the previous February, showing a modest spike, but the prices were nevertheless technically modestly declining. You will find signs of life in the housing market, but it nevertheless isn't really back to status quo. Some individuals are nevertheless underwater and far from mortgage loan modification.Case Shiller reports first gain given that 2006 MarketWatch reports home prices posted their first gain given that December 2006. February home prices were 0.6% higher than they were last February. The homebuyer tax credit is pinpointed. The prices aren't low enough to buy a home with a small loan, but they are low enough to stimulate some into purchasing.But there is also bad news.The bad news is that home prices are really nevertheless declining. The same study indicated that despite the increase in home prices between February present and past, home prices actually are still declining. January to February was really a 0.9% drop. Case Shiller indexes for 18 of 20 cities monitored saw declines, according to CNN Money..We aren't out of the woods yet for economic recovery.The chairman for the S and P index committee, David Blitzer, said the data could "point to a risk that home prices could decline further before experiencing any sustained gains." He also said that while some improvements were going on, the housing market had not yet truly recovered. Prices are still very low, but a lot more people are beginning to buy. (Though low prices means that more individuals buying will start to drive up prices.)Where do we stand?The S and P Case Shiller index of home prices is at the same levels of fall in 2003. Home prices have fallen 32.6 percent given that the high water mark of June of 2006. It might be some time before a full recovery is realized.</p><p><strong>Sources</strong></p><p><strong><em>MarketWatch</em></strong></p><p>http://www.marketwatch.com/story/home-prices-show-year-over-year-gain-sp-2010-04-27?reflink=MW_news_stmp</p><p><strong><em>CNN Money</em></strong></p><p>http://money.cnn.com/2010/04/27/real_estate/home_prices_up/index.htm</p>