Home price indexes are trending up
... but isn't that just a seasonal trend.
I'm not one to look negatively at good news but despite Case-Shiller and CoreLogic and others reporting that home prices have increased for 3 and 4 consecutive months respectively (Case-Shiller reported June 2011 and CoreLogic reported July 2011), aren't home prices always strongest during the seasonally high demand of spring and summer.
What I particularly like about CoreLogic is that they break out prices between distressed and non distressed sales.
Here's a snippet of what the July report:
“Homeprices in the U.S. increased for the fourth consecutive month, inching up 0.8 percent on a month-over-month basis. On a year-over-year basis, however, national home prices, including distressed sales, declined by 5.2 percent in July 2011 compared to July 2010. In June 2011, prices declined by 6.0 percent* compared to June 2010. Excluding distressed sales, year-over-year prices declined by 0.6 percent in July 2011 compared to July 2010 and by 1.9* percent in June 2011 compared to June 2010. Distressed sales include short sales and real estate owned (REO) transactions.”
For a full report, click here. Registration is required but actually it's a good thing because once you register, they'll email you once a month with their newest report.