Home prices rise in most cities

HOME PRICES RISE IN MOST CITIES

I found an article in the Signal today that says that Home Prices rise in Most Cities.
It says that:

"Home prices rose in nearly two-thirds of US cities this spring as buyers took advantage of tax incentives that gave the struggling housing market a temporary jolt.

The median sales price for previously occupied homes rose compared with last year in 100 out of 155 metropolitan areas tracked in the April-to-June quarter, the National Association of Realtors said Wednesday. That compares with 91 out of 152 cities in the January-to March quarter. Fourteen cities had double-digit price increases.

But the boost to the housing market in the second quarter faded shortly after tax credits expired at the end of April. Home sales fell in June and are expected to plunge further in July. Prices are expected to follow in the second half of the year.

The LOWEST mortgage rates in decades haven't been enough to energize buyers. Home loan applications were virtually flat last week, the Mortgage Bankers Association said Wednesday."

What do I feel? There are absolutely fewer buyers in the market, but time is really good for these buyers. They get an extremely low interest rate and they have better time to look around and get the house they want.

Marianne