U.S. home prices rose in May

By
Mortgage and Lending with Caliber Home Loans NMLS #251674
    NEW YORK (Reuters) - U.S. home prices rose in May in a fresh sign the battered sector is stabilizing, data analysis firm CoreLogic said on Monday.CoreLogic's home price index gained 1.8 percent from April and was up 2.0 percent from a year earlier.Excluding distressed sales, prices fared even better, gaining 2.3 percent in May and 2.7 percent from a year ago. Homeowners in danger of foreclosure, or in "distress", often sell their homes at a significantly reduced price."The recent upward trend in U.S. home prices is an encouraging signal that we may be seeing a bottoming of the housing down cycle," Anand Nallathambi, chief executive officer of CoreLogic, said in a statement."Tighter inventory is contributing to broad, but modest, price gains nationwide and more significant gains in the harder-hit markets, like Phoenix."The report's pending home price index indicates home prices will rise by at least another 1.4 percent in June and 2.0 percent excluding distressed sales, CoreLogic said.          
# CLGX 18.72 +0.41 +2.24
CLGX
Posted by

 

 

 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Arizona
Groups:
Realtors®

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
249,148

Mike Aavang

FHA USDA VA HOMEPATH CONVENTIONAL
Ask me a question
*
*
*
*
Spam prevention

Additional Information