The S&PCase-Shiller Home Price Indices for April released today showed the first price increases in nearly 8 months.The 10-City composite Index was up 0.8% in the month but is down 3.1% from a year ago, while the 20-city Index rose 0.7%, but is down 4% from April 2010.Six of the 20 cities, Charlotte, Chicago, Detroit, Las Vegas, Miami, and Tampa hit new index lows in the month, while 13 cities showed a month over month increase.David M. Blitzer, Chairman of the Index Committee at S&P Indices says, "In a welcome shift from recent months, this month is better than last - April’s numbers beat March. However, the seasonally adjusted numbers show that much of the improvement reflects the beginning of the Spring-Summer home buying season. It is much too early to tell if this is a turning point or simply due to some warmer weather. Other housing statistics show the same trends. Single-family housing starts were up in May, but still well below their 2010 levels and still very close to their 30-year low. Existing home sales rose in May, but are still about 15% below last year's pace and about 35% below their 2005 pace. While foreclosures remain a large factor in most parts of the country, the S&PExperian Consumer Credit Default indices show a small decline in the pace of new defaults since last November. Other reports confirm that banks have tightened lending standards in the past year making it harder to qualify for a mortgage despite very low interest rates."The average home price in the U.S. is back to levels they were at in the summer of 2003. From their peaks in June and July of 2006 through April 2011, the 10-city Index has declined 32.6%, with the 30-city Index off 32.8%.