Mortgage News

"Housing is clearly recovering."

January 29th, 2013

"Housing is clearly recovering.", David Blitzer, Chairman of the Index Committee at S&P Dow Jones Indexes stated earlier today.  According to the S&P/Case Shiller composite index of 20 metropolitan areas, gains of 0.6 percent in November's seasonally adjusted basis were in line with economists' forecasts.

Prices in the 20 metropolitan areas rose 5.5 percent year over year.  That is the 10th month in a row that prices have increased, and is the longest string of gains since the down turn began in 2006.

Blitzer also remarker that, "Home prices continue to appreciate."  All good signs that the housing recovery will remain strong heading into the spring of 2013.

 

http://www.cnbc.com/id/100415617 - Reuters Tuesday, Jan. 29, 2013