U.S. home prices rose for the third straight month in August, according to data released Tuesday. The Standard & Poor's/Case-Shiller home price index of 20 major cities climbed 1 percent from July to a seasonally adjusted reading of 144.5. While prices are down 11.4 percent from August a year ago, the annual declines have slowed since February. Prices are at levels not seen since August 2003 and have fallen almost 30 percent from the peak in May 2006. The latest index shows a widespread turnaround with prices rising month-over-month in 15 metro areas since June. However, Wachter along with other industry experts still worry that rising unemployment and more foreclosures could challenge a turn-around in the market. --SPA
