Home prices posted an unexpected increase, the first since 2006. The latest signs show that the market is beginning to stabilize.
Although the S&P 500's pricing index, of twenty cities, revealed that the average price rose by 1/2 a percent compared to the previous month, it is still down more than 17 % compared to a year ago.
The ten city home index jumped almost a 1/2 percent and was still down nearly 17 % compared to the year before. The was the 4th straight month where both indexes avoided posting record declines. Home prices have not been at this level since 2003.
-- Edited by TW on Friday 31st of July 2009 01:12:15 AM
