Dec
29
2009
29
2009
Home Prices Rise for Fifth Month in a Row
An article by admin 
As a homeowner myself, I look at this a fantastic news. But let’s not get too excited. A big part of this rise is because of the government incentivized tax credits and low, low interest rates. But this is still being looked at as a sign that the housing market is stabilizing.
Based upon the S&P/Case-Schiller price index; home prices increased a seasonally adjusted 0.4 percent in October. That is after a .2 percent rise in September.
This comes just weeks after news that existing home sales to a 6.5 million annual rate in November. That is the highest level since Feb. 2007.
We are not out of the woods yet however. Mounting foreclosure and high unemployment continue to threaten the housing market and the economy as a whole.
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Even though we are not out of the woods yet, this is still a good sign indeed. Let’s just hope that it doesn’t stop there, and it continues to grow in other areas as well that will affect out economy for the good.