Area and U.S. home prices were up modestly in May compared with a year ago, according to the Standard & Poor’s/Case-Shiller index, but an economist said it could be several more months before prices improve enough to affect the economy.

Dallas-Fort Worth home prices rose 2.9 percent in May, the seventh month of gains compared with a year earlier, according to the closely watched index, released Tuesday. On average, home prices were up 4.6 percent in the 20 U.S. metropolitan areas recorded in the index.

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