In today's issue of DSNews.com there is an article entitled "July Home Prices See Biggest Yearly Increase Since 2006: CoreLogic" that seems to suggest we are on a good track for the housing market. It discusses:
- Home prices saw the biggest nationwide year-over-year increase since August of 2006
- Home prices (including distressed sales) increased year-over-year by 3.8 percent in July
- July marked the fifth consecutive increase in home prices on both a monthly and yearly basis
- Removing distressed sales, home prices increased year-over-year by 4.3 percent compared to July 2011 and 1.7 percent relative to June 2012 (the fifth consecutive month-over-month decrease)
- According to the report, prices (including distressed sales) are expected to rise at least 0.6 percent from July to August, putting August on track for a 4.6 percent year-over-year increase.
The link to the full article is: http://www.dsnews.com/articles/july-home-prices-see-biggest-yearly-increase-since-2006-corelogic-2012-09-04
While there have been signs of improvement over the last months and even years, there is a continuing trend of "more good news than bad". Some experts are suggesting that the positive trends are encouraging and there may a light at the end of the tunnel.
May I suggest some optimism? OK, cautious optimism? Even being mindful of the notion "that a single data point does not a trend make", we are seeing more and more data points that are pointing in a positive direction. Let's keep watching...