Case-Shiller Index falls less than forecast
Positive signs on the housing market from the latest Case-Shiller Index showing prices falling less than forecast.
“The worst has passed,” said Mark Vitner, a senior economist at Wells Fargo Securities LLC in Charlotte, North Carolina. “We expect prices to bottom out around the middle of next year and then look for modest price appreciation for the next several years. There is still a tremendous oversupply of homes in most major markets.”
Read more at Bloomberg
But before anyone thinks that all is wonderful although the trend has turned positive, I'll echo the caution from Mark Vitner talking about the oversupply of homes in the market because after all, supply and demand do determine price.
From S&P Case-Shiller
