Home Prices increased--again
Home prices gained and that is buoying optimism. From April to May there has been an overall increase in prices. The indication is that the market is recovering. The Los Angeles Times said on August 1, 2012, that there are fewer foreclosures and that the inventory is lacking. This is the second time that a gain has been reported. That bodes well for the 20 cities in the index. The optimism must, also, be tempered with the fact that the spring and summer have been strong buying months. Michelle Valverde, an economist with IHS Global Insight said that it might be premature to conclude that the rise in the prices will produce continued monthly increases. With the asking prices of homes down, interest rates as low as they have been, buyers who have been sitting on the fence should sit no longer. The time is now!!!