TAMPA - Local home prices show more signs they are stabilizing, according a report released Tuesday.

The Standard & Poor's/Case-Shiller's U.S. National Home Price Index shows prices rose nearly 1.4 percent in July compared with the previous month, though prices are still down 18.4 percent from a year ago.

That comes after a 0.4 percent increase from May to June and no change in prices from April to May.

Even the gap in prices from a year ago is improving. Home prices in the Tampa area were down 19.5 percent in June compared with the same month last year.

"The rate of annual decline in home price values continues to decelerate, and we now seem to be witnessing some sustained monthly increases across many of the markets," says David Blitzer, chairman of the index.

The index tracks 20 major cities. Miami showed a 1.3 percent monthly increase and 21.2 percent yearly decline.

Nationally, the index showed home prices rose for the third month in a row in July.

The index rose 1.2 percent from June to a reading of 143.05, but home prices are still down 13.3 percent from a year ago. A bright spot is that the annual declines have slowed in all 20 cities for the sixth straight month.

The index is down about 33 percent from the peak in mid-2006. Home prices are now at levels not seen since the third quarter of 2003.

Reporter Shannon Behnken can be reached at (813) 259-7804.