If there are still any doubters about a housing recovery, today's solid rise in the formerly pessimistic S&P Case-Shiller Home Price index, the second-monthly increase, and a rise in the FHFA Home Price Index should continue to keep naysayers on the defensive.
Yes, there are still plenty of foreclosures and inventories remain elevated, but potential buyers are feeling increasingly confident that now is the time to purchase homes. With a recovery in economic activity apparently in place, mortgage rates may not stay low for too long. Hence, now may be the time to buy.
See Case-Shiller, FHFA report rise in home prices.
Tuesday, August 25, 2009
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