Biggest 3-Month Gain Since 2005 for Case-Shiller

Oct. 27 (Bloomberg) -- Home prices in 20 U.S. cities rose in August for a third consecutive month, bolstering the case that an economic recovery is at hand (see top chart above). The S&P/Case-Shiller home-price index climbed 1% from the prior month, seasonally adjusted, after a 1.2% increase in July, the group said today in New York. From a year earlier, the gauge fell 11.3%, less than forecast. The gains over the last three months have been the strongest since the three months ended in December 2005 (see bottom chart above).