New Housing Data

The Case/Shiller Home Price Index for May shows that we may have it a bottom in home prices. Prices dropped by an average of over 17% from May 08, but this most recent report was the best reading in almost a year, and the first month-to-month improvement in a long time. Add this to the news earlier this week about the number of home sales and it leads me to believe the worst may be behind us. Also, keep in mind that all this data is of the nation as a whole, the Denver market is in much better shape overall. Keep this in mind if you are on the fence about whether to upgrade or buy your first home. The combination of market bottom in both prices and rates doesn't happen very often!!!!