Can the end possibly be in sight? Have we passed the housing bottom?The Standard & Poor's composite indexes show housing price increases for both May and June, bringing the 2Q09 prices 2.9 percent higher than in the first quarter. This hasn't happened since the housing crisis began, some say three years ago.
Two articles worth reading...
- CBS News - Index Shows Home Prices Increase From 1Q To 2Q
- CNBC - Housing Rebound Looks Good, But Will It Last?
Two observations ... First - picking bottoms will be very unsatisfying. When it comes to buying a home, being close to the bottom is good enough. Second - with mortgage rates near historic lows and home prices lower, Now is the time to buy on Cape Cod.
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