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Real Estate Chart of the Day
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Are home prices rising or falling? It depends where you get your facts.
In 2011 -- for the same monthly payment -- you can borrow 77% more than you could in 1991. Buying a home is a relative bargain right now.
Another week, another report of rising home values. May's Case-Shiller Index showed a 1 percent increase from April 2011.
Home prices are climbing, says the government. But how good is the data?
The March Case-Shiller Index was released this week and it corroborates the findings of the government's most recent Home Price Index -- home values are slipping nationwide.
The market's bottom has passed and sellers are regaining their leverage in negotiations. It's an excellent time to get off the fence and make that offer.
More positive signals from housing -- home values are still on the rise. According to the Federal Housing Finance Agency, after posting its first quarterly increase since 2007 this past September, the Home Price Index rose by another 0.6 percent in October. Prices are up in 4 of the last six months.
The housing market is in recovery. There's lot of stats to back it up so take your pick:* Existing home sales are up and supplies are down * New home sales are up and supplies are way down * Pending home sales are posting at record pacesAnd, perhaps, most importantly, the best gauge of the housing market's health -- home values -- is showing consistent improvement. Both private-sector Case-Shiller Index and the government's own Home Price Index showed home prices on the mend.
Based on the last several months of real estate data, it appears as if home buyers are about to lose their upper-hand. When they do, buying a home won't be nearly the "deal" it may feel like today -- especially once mortgage rates head back up and after the $8,000 First-Time Home Buyer Tax Credit expires December 1. They say this is a Buyer's Market. It's only a buyer's market if you actually buy.
