This marks approximately six months of improved readings in these statistics, beginning in early 2009.

—S&P Case Shiller announcement

These figures continue to support an indication of stabilization in national real estate values, but we do need to be cautious in coming months to assess whether the housing market will weather the expiration of the Federal First-Time Buyer’s Tax Credit in November, anticipated higher unemployment rates and a possible increase in foreclosures.

David M. Blitzer, Chairman of the Index Committee at Standard & Poor’s

There are now several months of data in which we have seen improvement. California in particular seems to be showing sustained improvement.

Maureen Maitland, vice president for index services at Standard & Poor’s

We believe it unlikely that the overall price adjustment seen to date is sufficient to balance supply (which is enormous) with demand.

Joshua Shapiro, chief United States economist of MFR Inc

The market for housing will not become truly robust until market forces replace the prostheses of government support.

Richard Fisher, president and CEO of the Federal Reserve Bank of Dallas.

The Case-Shiller Index is not seasonally adjusted which means price gains in the spring and summer should not be surprising. A seasonally adjusted index shows more muted growth while the seasonally adjusted 10 city index continues to show declines in prices. Despite the disparity these measures may be indicating, there is little doubt the housing market is improving. Prices are improving, the inventory picture continues to get better, and government support for the sector remains in place, for now.

Dan Greenhaus of Miller Tabak & Co