Is the Housing Market at the Bottom?
August 5th, 2009 categories: Buyers, Market Updates
This week’s housing market data was generally positive. June New Home Sales jumped 11%, the third straight month of increases. Inventories of unsold new homes fell to an 8.8 month supply from a 10.2 month supply in May. The May Case-Shiller index of home prices in 20 Metropolitan areas rose 0.5% from April, following 34 straight months of declines. While the results vaired greatly in different parts of the country, the increase in average prices provided support for the analysts who believe that the housing market has bottomed.
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