Housing prices rose 0.7% in April, snapping eight straight months of declines, as home values increased in 13 of the 20 cities in the Standard & Poor's/Case-Shiller house price index.

Despite the good news, David Blitzer, chairman of S&P's index committee, remains cautious until he sees several more months of house price increases. “It is much too early to tell if this is a turning point or simply due to some warmer weather,” Blitzer said Tuesday morning in releasing the HPI.

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