Housing prices are starting to show signs of life.
The Case-Shiller Index came out a few minutes ago and it shows a surprising increase in home prices.
While experts only expected to see a 0.3% increase in the index’s “20 City Composite,” a key indicator for the national housing market, the report concluded that prices are up 0.67% – more than double the expectations.
Such “misses” tend to mark the start of rallies, so it’ll be interesting to see how the rest of 2012 plays out.
Stay tuned for local numbers!