Price Rise Shows a Better Balanced U.S. Housing Market
Best evidence that the US housing sector is recovering is the recent gains in home prices, as shown in two new reports out today.
Katheleen Madigan wrote today that Tuesday brought two reports on home values.
The third-quarter S&P/Case-Shiller nationwide home price index was up 3.6 percent from its year-ago level, its second year-over-year gain.
The Federal Housing Finance Agency uses different price methodology but came to the same basic conclusion: its third-quarter U.S. price index for purchased homes increased 4.0 percent from a year ago.