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Housing Prices on the Rise Again

Posted: January 26, 2010

Great news - home prices have risen for the sixth straight month, indicating that while the housing market is by no means "out of the woods", it's certainly taking a step in the right direction. According to the S&P/Case Schiller U.S. National Home Price Survey, studies show that housing prices in 20 cities have increased 0.2%, causing the index to rise. The study is adjusted seasonally, and its most recent findings date back to October of 2009.

While housing prices increasing is good news, it is tempered with the fact that year-to-year statistics actually show a decline - about 5.3%, to be more approximate - across the same 20 cities.

So, what does this mean, you ask? It means that while prices are rising, and housing inventory is declining, there is still room for improvement in the market. Unemployment rates (especially in economy-stricken areas including Naples, Fort Myers, and Cape Coral), adjustable mortgage resets, and other factors can either help or hurt the economy in the future. At this point, all we can do is wait it out the best we can.

As always, please feel free to contact me at 239-357-9558 with any of your Real Estate needs and questions. Rgds, Jay

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