Home Prices Continue to Strengthen Nationwide

Another month – another positive sign!  The Standard & Poor‘s/Case-Shiller home price index rose 1.2 percent from June to August which reflects a positive trend for the third month in a row.

Before we all go off the deep end and declare “happy days are here again”, we should probably temper our enthusiasm just a bit.  David M. Blitzer, the committee chairman for the Case-Shiller index said, “We do need to be cautious in coming months to assess whether the housing market will weather the expiration of the federal first-time buyer’s tax credit in November, anticipated higher unemployment rates and a possible increase in foreclosures.”

Stay tuned – - -

Related articles of interest:

• A Look at Case-Shiller, by Metro Area (September Update) (blogs.wsj.com)
• Home prices gain for 3rd straight month (money.cnn.com)