Gents, Our Hope is Restored?

… It wasn’t that long ago when some pundits were saying hope was all we had in the housing market. But now our hope is being justified by some solid facts. Last Tuesday, the Case-Shiller S&P 500 index of home prices in the 20 largest metros posted a 0.9% gain (seasonally-adjusted) for June. For the month, 18 of the 20 metro areas showed gains; in the last three months, prices were up in all 20. Overall, prices are UP 0.5% compared to a year ago.