The S&P Case Shiller home price index continues to show rising prices in much of the country, including Tampa Bay.

Tampa Bay prices rose 0.4 percent between July and August, though they were down about 17 percent year over year.

Case Shiller's numbers come out a month after Realtors' numbers, though their prices changes correspond pretty well.

As I've been saying for months, I strongly suspect January's home prices, when the median was about $122,000 coming off last fall's near financial collapse, represents our low point.

More price volatility is ahead  --- Realtors already reported a home value decline in September --- but it's doubtful they'll dip below $120,000.

If you click on the link above, note how well California is doing, relatively speaking. That state is often a leading indicator, for good and for bad.

But as I learned last week at a home builder Web-conference, California didn't have our home building explosion and home buyer incomes are higher than ours. We remain terribly overbuilt as a state, although Tampa Bay isn't the worst off.