U.S. house prices up 1.6% in MayJuly 14, 2009
Submitted by Natalie Ransom, REALTOR
A study of home prices showed they rose 1.6 percent in the United States in May, though they are still down 10.5 percent year-over-year.
The report, by Integrated Asset Services LLC, showed the strongest gain in the Northeast, where prices rose 3.2 percent. Prices in the West only rose 0.9 percent, the smallest jump in the report, but San Francisco home prices jumped 3 percent in May.
The South, which was the only one of the four regions the company studied to see a house price drop in April, rose 1.1 percent in May.
Dave McCarthy, president and CEO of Integrated Asset Services, called the results encouraging, though he said the data “hardly signals a turn in the national housing market.”
For the entire story from the Atlanta Business Chronicle, please click here.