NEW YORK (

TheStreet

) -- Home prices grew for the sixth month in a row in July.

The Standard & Poor's/Case-Shiller home price index jumped 1.2%. The index, which measures home prices in 20 major cities, is still down 13.3% on a year-over-year basis, but even this was a slower decline than previous months.

The news sent shares of homebuilders rallying in morning trading.

Lennar

(LEN) - Get Report

climbed 3% to $15.11,

DH Horton

(DHI) - Get Report

grew 3% to $12.10,

Pulte Homes

(PHM) - Get Report

increased 2% to $11.47,

Toll Brothers

(TOL) - Get Report

rose 1.5% to $20.30 and

KB Home

(KBH) - Get Report

shot up 3% to $17.36.

They Just Don't Get Housing!

Image placeholder title

Only two cities showed price declines month to month, and 19 of 20 cities have homes prices above their lows.

Minneapolis recorded the biggest gain during the month, with prices up 4.6%. Las Vegas and Seattle, however, fell 1.1% and 0.1%, respectively.

-- Reported by Jeanine Poggi in New York

Follow TheStreet.com on

Twitter

and become a fan on

Facebook.

Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. AP contributed to this report.