The S&P / Case Shiller Report released today for April indicates increasing home values.:
Data through April 2011 ... show a monthly increase in prices for the 10- and 20-City Composites for the first time in eight months. The 10- and 20-City Composites were up 0.8% and 0.7%, respectively, in April versus March. Both indices are lower than a year ago; the 10-City Composite fell 3.1% and the 20-City Composite is down 4.0% from April 2010 levels. ... Six of the 20 MSAs showed new index lows in April – Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa. Thirteen of the cities and both composites posted positive monthly changes. With index levels of 152.51 and 138.84, respectively, both the 10- and 20-City Composites are above their March 2011 levels, which had been a new crisis low for the 20-City Composite.
This may be a sign that we have seen or are close to the bottom of the housing market. Now is a good time to look at buying a home as a primary residence or investment property. Apply Now to pre-qualify for a purchase. www.PaulCantor.info (804) 433-1510