Minneapolis housing price bounce is the highest among 20 markets

Good news for the local real estate market (unless you are just looking to buy): Minneapolis housing prices jumped 3.7 percent from June to July, according to the closely watched monthly S&P Case-Shiller index.

Of the 20 major metros in the index, Minneapolis had the biggest monthly rise, according to the survey. And prices are up 6.4 percent from last year.

Home prices in all 20 markets rose in July, and it’s one of a number of signs the housing market is slowly recovering nationwide, USA Today reports.

Wall Street liked the news early Tuesday:

Stocks open higher after S&P Case-Shiller home price index, but a pessimistic outlook from Caterpillar limited gains: cnb.cx/RUgsAp

— CNBC (@CNBC) September 25, 2012