First, let me be clear...everything is relative in this market.
Good news isn't exactly what it used to be, but considering the L O N G, steady decline in home prices over the last 3 years, any mention of news about an increase in home prices is music to the ears of most homeowners/sellers.
Again, it's important to note that home prices are still in decline when compared to last year, but the S&P/Case-Shiller Home Price Indices (the leading measure of home prices in the United States), actually reported that the U.S. National Home Price Index improved in the second quarter of 2009.
There's still a 14.9% decline in the 2nd quarter of 2009 versus the 2nd quarter of 2008, but last quarter's decline was over 19%.
As you know if you've read my previous blogs or watched the news lately, home sales have increased each month for the last 5 months. Are we at or near the bottom? Maybe. Maybe Not. However, there's no denying that this is a good sign. If this continues for a few months, and the economy continues to steadily improve as it appears to be doing, there's no question that it will be a very positive step in the direction of recovery...
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Here are some recent articles of interest (click on the artice title to see the full story):