About that housing rebound, Barry...?

Rick Moran
Oops. Is it too late to change my vote? Reuters: Home prices slipped in September after gaining for six months in a row as values were weighed down by cheaper distressed sales, data from CoreLogic showed on Tuesday. CoreLogic Inc's home price index fell 0.3 percent from August. Prices were still up strongly compared with a year ago, rising 5 percent for the biggest increase since July 2006. Excluding distressed sales, prices were up 0.5 percent from August and also gained 5 percent from last year. Homes that have been seized by banks or are in danger of being foreclosed are often sold at significantly reduced prices. The stabilization in home prices this year has helped the housing market turn the corner as it recovers from its far-reaching collapse. CoreLogic forecast prices would fall 0.5 percent in October as the benefit of the summer buying boost wears off. Still, October prices are expected to be up 5.7 percent from the previous year. The housing collapse is one clear...(Read Full Post)

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