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According to the Standard & Poors Case-Shiller Index, home values rose 5 percent in June versus the month prior, and 4 percent from a year earlier. It’s the 16th consecutive month in which Case-Shiller reported an increase in home values and the third straight month of outstanding results.
Home values “crept forward” in July. But not that it matters — the Case-Shiller Index is a better tool for economists than it is for homeowners. There’s 3 reasons why.
According the Federal Home Finance Agency’s Home Price Index, home values are now just 12.5 percent off their April 2007 peak nationwide. This after a half-percent monthly increase in prices in May,on average.
Standard & Poors released its Case-Shiller Index Tuesday. On a seasonally-adjusted basis, between April and May 2010, home prices rose in 19 of Case-Shiller’s 20 tracked markets. It’s the second straight month of strong Case-Shiller findings.
As 2009 was ending, the “experts” were busy making forecasts about the U.S. economy and what to expect in 2010. Were they right?
In reviewing the April Case-Shiller Index and its accompanying analysis, it appears that the housing market’s rebound is gathering momentum.
According to The Conference Board, economic confidence is as high as it’s been since August 2007 — 4 months before the start of the recession. Americans are optimistic again. It’s good for home prices but bad for mortgage rates.