Good News: Home prices rose in July, according to the S&P/Case-Shiller home price index, and have now risen for four straight months.
Bad News: Home prices generally rise in July, and they’re still down 4.1 percent year on year.
The index rose 0.9 percent, above consensus expectations of 0.7 percent, according to Reuters, while 17 of the 20 cities measured had price increases from a month before. But prices often rise in summer as the kids get out of school and parents focus on buying a new place before the fall semester begins. So it’s a better measure of the market to look at the numbers on a seasonally adjusted basis. By that measure, the 20-city index was flat month to month. Of course, given how lousy the housing data has been for the past couple of years, that in itself is not bad news.
We have to take any good news,, it is going the right way.
If you like any details for your neighborhood please let me know, I'm happy to help.
sindy@sindytennesrealty.com
Have a great day, Best Sindy
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