That's right, folks. If you're looking to buy a house, and have been apprehensive about making the move due to uncertainty you keep hearing about on the nightly news, well you better rethink your strategy--because things are looking up!
On the heels of last week's awesome report on existing home sales, we received the Case-Shiller Home Price Index this morning, and all signs are pointing up! According to Reuters, the report says home prices rose 1.4% month-over-month in June on top of a 0.5% increase in May. And, to make it even sweeter, 18 of the 20 cities profiled in the index had price gains compared to 14 in May.
With mortgage rates down to historical lows, unemployment dropping, and retail sales continuing to rise, the feeling is this is not a two-month stint, but rather the start of something big in the housing sector.
Todd M. Schoenberger, Managing Director
LandColt Trading, Inc.