Home price inched up in September, the fourth consecutive monthly increase. The Standard & Poor’s/Case-Shiller home price index of major cities, released on Tuesday, inched up 0.3 percent. The seasonally adjusted reading in September was 144.96. But the index looked weaker than in months past, with prices increasing month-over-month in only 11 metro areas (the index looks at 20 cities).
Year-over-year
Prices were down 9.4 percent from last year, the smallest year-over-year decline since January 2008.
With unemployment and foreclosures continuing to hit record numbers, many experts feel this positive movement is not sustainable.
DHW asks: Do you think the housing market has hit bottom?