Home Prices Turning Up in Spots

AP

First, let me say that I don’t believe in month-to-month data when it comes to the housing market; I think it’s far too volatile, whether it’s prices, sales or even mortgage applications (the mortgage bankers issue a three-month moving average, which is much more accurate).

That said, I want to talk about home prices today -- because we’re beginning to see a trend of a possible stabilization in certain areas.

S&P Case Shiller gives 10- and 20-city composites, both of which were down (17 percent and 15.9 percent respectively), and a national index, which was down 15.4 percent year over year.