What do Boston, Charlotte, Chicago, Cleveland, Dallas, Minneapolis and San Francisco have in common? They’re cities where home prices rose recently. That’s according to the Standard & Poor’s Case-Shiller Home Price Index, which shows that prices are actually starting to rise again in some parts of the country. Other recent data shows that there are some tentative signs that the real estate market may be starting to recover.
“This is the first time in almost three years that we’ve seen price increases,” says Yale University Professor Robert Shiller, who helped design the home price index. “So when we see a break in the downward trend that’s definitely encouraging news.” For a long time Shiller was known as a pessimist about the housing market. And it turned out he was absolutely right. But now, he’s striking a different tone.
“Well, I think the worst is probably behind us — the worst pace of decline,” he says. “We were going down at 2 percent a month for a number of months in a row nationally. That was really something. Now home prices relative to rents or construction costs are back at normal levels.” source: npr.org
For those with cash in hand, now is the time to buy. For investors, the Naples Real Estate market offers many options as well as luxury homes for those wanting a vacation home.
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