Home Prices Inch Up

Posted On: Wednesday, April 28, 2010 - 1:36pm | Posted By: Donald Feaster
Topics: Market Statistics

According to a report published on April 27 by the S&P/Case-Shiller 20-city index, home prices posted their first year-over-year increase since December 2006.

As of February 2010, prices are about where they were as of Fall of 2003. The best performing market in February was San Francisco, which posted a double-digit gain over the past 12 months of 11.9%. California is rising ... San Diego home prices jumped 7.6% and Los Angeles gained 5.3%.

The chief economist for the National Association of Home Builders expects home prices to be stable for some time. He said that we’re in for a period of wondering around zero price gains with a general slight upward trend.

Source: CNN Money