Dive Summary:

• The Federal Housing Finance Agency is adding its positive number to the indicators of a housing recovery. It reported that home prices in July were 3.7% above July 2011.
• The agency's housing price index now stands at about where it was in June 2004, the FHFA said. The peak was April 2007, and the current market is 16.4% below that.
• FHFA calculates its index using values of homes with mortgages owned or backed by Fannie Mae or Freddie Mac.

From the article:

U.S. home prices rose 3.7% for the 12-month period ending in July when compared to year earlier levels, the Federal Housing Finance Agency said Tuesday. ...