The S&P/Case-Shiller index and the Office of Federal Housing Enterprise Oversight both reported Tuesday that home prices nationwide are continuing to decline.

The Commerce Department, meanwhile, said new-home sales for July were up 2.4 percent after June’s 17-year low. That boosted the annual pace to 515,000 units, the most since April.

In the Case-Shiller index, however, metro Atlanta showed slight improvement in its resale prices for the second quarter, rising 0.6 percent over the first quarter. And the first quarter was 0.5 percent better than the last quarter of 2007.

But over a year’s time, Atlanta’s resale prices are off 8.1 percent, according to the index. That ranks Atlanta as the eighth best on a list of 20 metro areas.

In the OFHEO’s home-price rankings, based on purchases and refinancings, Atlanta showed a slight decline of 0.70 percent. That dropped Atlanta from 153 to 159 on a list of 292 metro areas.

An Associated Press/ReMax report said Monday that sales of existing homes in Atlanta fell 18 percent last month compared with July 2007. Banks are having to take back foreclosed properties in intown areas where mortgage fraud is greatest, and in far-flung areas where subdivisions sit incomplete.

The median price during that time declined about 10 percent to $175,000, the AP-Re/Max report says.

However, HousingTracker.net says Atlanta’s median price, including attached housing, is $215,496, which is essentially flat over a year’s time.

Scott Simpson, president of the Atlanta Board of Realtors, said Atlanta is too big to accurately describe with numbers that encompass so many submarkets.

“There are a lot of different situations out there regarding our city and our markets,” said Simpson, manager of Prudential Georgia Realty. “Some areas have experienced no price drop whatsoever. In July, we had our best month in over a year.”

First Multiple Listing Service, which is mostly metro Atlanta counties, said 4,769 homes were sold in July at an average price of $245,742. The volume is 20 percent lower than in July 2007 and the price is 13.6 lower.

Nationally, Case-Shiller says home prices declined a record 15.4 percent from the first quarter. The previous quarter’s decline was 14.2 percent.

On the bright side, the pace of decline slowed in June compared with May. “It’s possible that we are seeing some regions struggling to come back, which has resulted in some moderation in price declines at the national level,” said David Blitzer, chairman of S&P’s index committee. “The rate of home price decline may be slowing.”

The National Association of Realtors said sales of existing homes nationwide rose 3.1 percent from June to July as bargain-hunters snapped up properties in the hardest-hit areas, such as Nevada and California.

At the same time, the number of unsold properties hit an all-time high, an indication that the worst housing market since the Depression is unlikely to turn around soon.

Sales of new homes are off 35.3 percent since July 2007, the Commerce Department says. And the median price — where half sell for more and half for less — was now $230,700, down 6.3 percent from last year.

In its third-quarter report, Atlanta-based home builder Beazer Homes said revenues fell 40 percent.

Buyers are waiting to see where the market will bottom out and lenders are skittish because they’ve been stuck with a large number of bad loans.

“Buyers feel property values are declining and it’s not yet a good time to buy,” said Eugene James, Atlanta division director of Metrostudy, which tracks housing starts and closings. “Secondly, a lot of folks are losing jobs. A lot of folks are afraid their jobs may be in jeopardy.”

The good news is housing inventory in Atlanta has been shrinking for several months, which is essential for a recovery, James said.