Home prices in the United States rose slightly in November for the sixth straight month, according to the Standard & Poor’s/Case-Shiller home price index releasedTuesday. The closely-watched gauge showed month-to-month improvements in 14 of the 20 metro areas tracked, with the overall seasonally adjusted readings inching up 0.2 percent in both the 10-city and 20-city composites.

The annual returns of the 10-city and 20-city composite indices were down 4.5 percent and 5.3 percent, respectively, in November, continuing a 10-month streak of improved readings in the year-over-year statistics. November marked the third consecutive month the annual stats have registered single digit declines, after 20 consecutive months of double digit declines.

“While we continue to see broad improvement in home prices as measured by the annual rate, the latest data show a far more mixed picture when you look at other details,” commented David M. Blitzer, chairman of S&P’s index committee.

Blitzer notes that only five of the markets in the study saw price increases in November versus October. Phoenix led the month-to-month growth with a 1.1 percent increase. Los Angeles, Portland, San Diego, and San Francisco also showed slight gains.

“What is more interesting is that four of the markets – Charlotte, Las Vegas, Seattle, and Tampa – posted new low index levels as measured by the past four years,” Blitzer said. “In other words, any gains they might have seen in recent months have been erased and November is now considered their current trough value.”

On the flip side, the annual figures in four markets – Dallas, Denver, San Diego, and San Francisco – have finally entered positive territory, and that’s something Blitzer says hasn’t been seen in at least two years in most markets.

“While these data do show that home prices are far more stable than they were a year ago, there is no clear sign of a sustained, broad-based recovery,” Blitzer said.

According to S&P’s study, as of November 2009, average home prices across the United States are at similar levels to where they were in late 2003.

A separate index released Tuesday by the Federal Housing Finance Agency (FHFA) showed U.S. house prices rose 0.7 percent on a seasonally adjusted basis from October to November.

The agency’s monthly index is calculated using purchase prices of homes backing mortgages sold to or guaranteed by Fannie Mae and Freddie Mac. For the 12 months ending in November, FHFA says residential prices rose 0.5 percent.