Wednesday, July 31, 2013

Home Prices Up 12% in US

Home prices in the US rose 12% versus the year ago prices in May.  This is good news for homeowners.  Investors are purchasing a lot of the underpriced existing homes which will be used for rentals.  The economy is more dependent upon the building of new homes.  That market is still depressed.  This is reflected in the stock prices of major home builders which have tumbled in recent months.

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