Home prices increase for the fourth straight month

According to S&P spokesman David Blitzer, “Existing home sales were up 20% in August compared with 12 months earlier. Foreclosures have dropped most of the year.” Housing prices have continued to increase for the fourth straight month. While it is still too early to declare a housing market recovery, it is a positive indication that things are moving in the right direction. Anthony Sanders, a professor of real estate at George Mason University also stated, “Four months of price increases is a pretty good sign that the market has stabilized." Keeping this momentum up would allow for lenders to "loosen their purse strings" a little, which would in turn allow more interested home buyers to qualify for loans.

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