U.S. home prices rose in the second quarter for the first time in three years while positng a second-straight monthly increase in June, according to the S&P Case-Shiller home-price indexes.

For the second quarter, the S&P Case-Shiller U.S. National Home Price Index posted a 14.9% drop from a year earlier, an improvement over the record 19.1% drop in the first quarter. It was up 2.9% from the first quarter of 2009..

The monthly numbers showed 15 of 20 major metropolitan areas posted price declines of more than 10% from a year earlier, with the Sun Belt continuing to be hit the hardest. Nationally, home prices are at levels similar to early 2003.

At the end of the second quarter, average national home prices are down 30% from their peak in the second quarter of 2006.

The indexes showed prices in both 10 and 20 major metropolitan areas fell 15% in June from a year earlier and rose 1.4% from May.

Consumer confidence jumps

U.S. consumer confidence rebounded in August, especially regarding expectations for the economy six months from now, a report released Tuesday said.

The U.S. Conference Board, a private research group, said its index of consumer confidence increased to 54.1 in August from a revised 47.4 in July, which was originally reported as 46.6.

The current month’s reading was far above economists’ expectations of 47.0.

The present situation index, a gauge of consumers’ assessment of current economic conditions, rose to 24.9 this month, from a revised 23.3 in July, originally reported as 23.4.

Consumer expectations for economic activity over the next six months jumped to 73.5 from July’s 63.4, first reported as 62.0.

IE