A sign advertising a home for sale is seen August 28, 2012 in Los Angeles. According to a widely-watched survey, single-family home prices rose for the sixth consecutive month in July. By Reuters U.S. single-family home prices rose for a sixth month in a row in July, though the improvement was not as strong as expected, a closely watched survey showed on Tuesday. The SP/Case Shiller composite index of 20 metropolitan areas gained 0.4 percent in July on a seasonally adjusted basis, shy of economists’ forecasts for 0.9 percent, according to a Reuters poll. On a non-adjusted basis, prices fared better, rising 1.6 percent. Six years after its collapse, economists believe the housing market has turned a corner. Recent data show home resales and groundbreaking on new properties rose in August, while business sentiment among homebuilders picked up to a more than six-year high this month. The home price data confirmed “recent good news” about the sector, David Blitzer, chairman of the index committee at Standard Poor’s, said in a statement.
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