Home prices rose in August for the third straight month, a rapid pace of recovery that surprised economists and raised questions about how long the trend can last.
After a steep three-year descent, home prices rebounded this summer at an annualized pace of almost 7 percent, the Standard & Poor’s/Case-Shiller home price index showed Tuesday. Against a backdrop of rising unemployment and falling consumer confidence, the speed of the recovery stumped Robert Shiller, economist and co-creator of the index.
The Case-Shiller index of 20 major cities climbed 1 percent from July to a seasonally adjusted reading of 144.5. While prices were down 11.4 percent from August a year ago, the annual declines have slowed since February.
The preceding article was published by the Bend Bulletin. It looks like we are seeing the bottom of the real estate market. Now is a great time to buy while prices and interest rates are low.
If you’re thinking about buying a home in Bend you should sign up for Jim’s free New Listing Notification Service or call or e-mail today. Jim Johnson is a Certified Residential Specialist and has been selling quality homes in Bend Oregon since 1981.