US home prices increased in July for the fourth straight month, the Standard & Poor's/Case-Shiller 20-city home price index found on Tuesday. The index increased 0.6 percent in July from June and 3.2 percent from a year ago. Twelve cities showed monthly price gains. Despite the increase, seven cities showed month-over-month declines and the gains in many cities were weaker from the previous month. The boost from government tax credits for homebuyers is fading. A record number of foreclosures, job concerns and weak demand from buyers suggest price declines are coming in the months ahead. Nationally, prices have risen almost 7 percent from their April 2009 bottom. But they remain nearly 28 percent below their July 2006 high.
