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Home Prices Continue to Rise

For the third month in a row, home prices have increased more than 5 percent over the past year and in July rose 6 percent, a sign that housing recovery is “on very sound footing” says  Zillow Chief Economist Dr. Stan Humphries. Of the 39 metros surveyed in July, 73.5 percent showed month over month appreciation and Zillow expects this appreciation to continue over the next year. Humphries also suggests that it may be time to start focusing on the future of housing instead of reacting to the past, though it would be a mistake to forget the problems that our market endured over the past few years. 

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SOURCE: Reverse Mortgage Daily