Home prices up for 1st time in 3 years

[Peacetrain]

http://money.cnn.com/2009/07/27/real_estate/May_Case_Shiller/index.htm

NEW YORK (CNNMoney.com) -- The value of U.S. homes grew on a monthly basis in May for the first time in nearly three years, according to 20-city index released Tuesday.

The month-over-month increase was 0.5%, according to the report from financial data company Standard & Poor's and economists Case-Shiller. It was the first increase in the monthly index since July 2006.

[MercutioATC]

1. Amazing what will happen when you throw $8000 checks at people.

I'd expect month-to-month to be up through August...and year-to-year up through December.

If you want to get an idea of how home prices (and sales) are REALLY doing, let's wait until 1/1/10 when the $8000 first-time homebuyers' credit expires.

[Phx_Dem]

2. The Obama Recovery. It works. n/t

[GivePeaceAchance]

3. Hey, I'll take a flurry of good news and run with it after months of gloom...

I think the recovery act is doing just as it should do right now. It looks like they've spent very well and strategically. T

[taught_me_patience]

4. QE by the FED showering the market with money

wait until they are finished and rates spike back to "normal".