Are we finally seeing some good news from the housing market? For the first time in nine months, nationwide home prices rose in April. The increase, according to the Case-Shiller home index, was just 0.7 percent, but that was welcome news after eight straight down months.
That's pretty much the extent of the good news, though. In the year-over-year figures, home values were still down 3.1 percent from April 2010. The New York metropolitan area, which covers our area as well, tracked the national figures: We were up 0.8 percent from the March numbers, but still down 2.8 percent from April 2010.
April is just a prelude to the summer house-buying season. We'll really know if the housing market has turned a corner if the June and July figures are headed in the right direction as well.
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