Bloomberg reported today that home prices posted their first monthly gain in three years in May, demonstrating signs of stabilization in the worst real estate market slump since the Great Depression.
The report, which is a gauge in values in 20 major U.S. cities, offered some much needed hope for home owners. The S&P/Case-Shiller home -price index rose 0.5 percent from April, the first monthly gain since July 2006 and the biggest since May of that year.
Central Iowa is experiencing an increase in home values as well. According to a report from the Des Moines Area Association of Realtors, the average price of homes sold in Greater Des Moines spiked in May to $182,233 from $148,666 in April. However, the average sale price dropped in June to $168,750.
Comments(0)