Housing Recovery Seen Possible Now
The U.S. housing market may finally have turned around after three years, given the rise in the widely-watched Case-Shiller home price index for May, the developers of the index told Reuters on Tuesday.
The Case-Shiller home price index for May posted an increase of 0.5 percent, the first monthly rise since 2006, in instead of a forecast 0.5 percent decline, though prices have tumbled more than 32 percent from their peak in the second quarter of 2006.
“This is much more important than an up day on the stock market. It may mean that we may have changed direction,” Yale University economist, Robert Shiller.
U.S. housing recovery seen possible now: Shiller
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