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The Fourth Monthly Increase in a Row
The Standard & Poor’s/Case-Shiller home price index of 20 major cities rose for the fourth month in a row. Another reading of home prices by the Federal Housing Finance Agency held steady from August to September.
A few bullet points from today’s Associated Press article:
- Analysts expect prices to dip again this winter as foreclosures increase and economic growth remains modest.
- Home prices are a key ingredient to rebuilding the economy.
- Homeowners feel wealthier when their property appreciates in value and are more likely to spend money.
- Rising prices also help millions of homeowners who owe more to the bank than their homes are worth.