Home Prices Signal Recovery May Be Here

FNB-Fox Valley housing market mortgages showing signs of a reboundAccording to CNNMoney, a sharp boost in home prices during the spring may signal a recovery is on its way for the US housing market. National home price indexes are on the rise in comparison to the beginning of 2012, predicting a market turn around for 2013. Positive industry reports also include an increase in new home sales, existing home sales and residential building permits.

NEW YORK (CNNMoney) — A sharp boost in home prices during the spring could signal a recovery in the long-suffering U.S. housing market, according to an industry report issued Tuesday.

The S&P/Case-Shiller national home price index, which covers more than 80% of the housing market in the United States, climbed 6.9% in the three months ended June 30 compared to the first three months of 2012.

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