According to "The S&P/Case-Shiller composite index of house prices", housing prices are going up. Its important to remember that they are now at levels seen 6 to 7 years ago.
This is good news for the regular homeowner out there and should add a sense of relief to investors hoping for a stabilizing housing market. A lot of this has to do with the $8,000 credit for new home buyers. Still, its an improvement.
Reuters: U.S. home prices up in July for third straight month
...surpassing forecasts and suggesting that the housing market is stabilizing...
The 10-city index gained 1.7 percent in July after a 1.4 percent rise the previous month.
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