Real Estate Prices Are Going Back Up
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July 9 (Bloomberg) -- House prices, after falling for morethan five years, are rising again. All the major sales-priceindexes show that there have been modest national increases inrecent months, even after adjusting for seasonal patterns.
When foreclosures and distressed sales are excluded fromthe data, prices are up even more. And we should expect furthergains: The asking-price index, a leading indicator of salesprices, published by Trulia Inc. (where I work), climbed at anannualized rate of 3.3 percent in the second quarter of thisyear, adjusted for mix and seasonality, and rose in 84 of the100 largest U.S. metropolitan areas.