According to an article on DSNews.com, last week’s report from the Federal Housing Finance Agency cited a .3% rise in home prices for the month of July.
The index’s rise “supports other evidence that the three-year long decline in prices has come to halt,” Paul Dales, an economist with Capital Economics, wrote in a note to clients, before warning that “rising foreclosures and the fragile economic environment suggest that further gains in prices will be modest and patchy.”
The report said that the most year-to-year sales growth occurred in seven of the markets worst hit by the recession: Phoenix, Miami, Las Vegas, San Diego, Los Angeles, San Francisco and Tampa.
Submitted by Dan Moriarty
Source: DSNews.com