Home prices show stability after modest gain
Home prices rose slightly in May compared with a month earlier, appearing to have stabilized at the lower levels that followed the end of the residential real estate bubble, according to the S&P/Case-Shiller Home Price Index of 20 major housing markets released Tuesday.
Prices were up 1.3% from April, and 4.6% from 12 months earlier.
The price rise might have reflected one of the last gasps of the government’s incentive program, which paid tax refunds of as much as $8,000 to homebuyers if they signed a sales contract before May 1.
“It does look like the market was boosted by the tax credit,” said Robert Dye, senior economist for PNC Financial Services. “It seems to have pulled some of the demand forward.”
Although the increase was welcome news for the beleaguered housing market…
Please read the remainder of this article by CNNMoney.com here.
Latest posts by Renee West (see all)
- Benedict Canyon- minutes from rodeo Drive and the Beverly Hills Hotel.Offered for $68,000,000. Contact Renee West for your personal brochure. - October 1, 2018
- NEW CONSTRUCTION ON THE BLUFFS OF CORONA DEL MAR.4541 BRIGHTON ROAD, CORONA DEL MAR- “THE CROWN OF THE SEA”. OFFERED FOR $27,995,000. - September 18, 2018
- 9 Del Mar, Newport Coast, Newport Beach, CA. “Truly the finest estate in Crystal Cove”. Listed at $35,000,000. Contact Agent Renee West at firstname.lastname@example.org for full disclosure. - August 30, 2018