Home Values Rose For the 4th Straight Month
The government is confirming what the private sector has already shown — home values are on the rise.
The Federal Home Finance Agency’s Home Price Index shows home values rose 0.8% in July.
July marks the fourth straight month that home values climbed and the FHFA’s Home Price Index is the latest in a series of “rising home values” reports — an encouraging trend for buyers and sellers in Fitchburg and nationwide.
Last week, the S&P Case-Shiller Index showed home value up nearly 1 percent in July. CoreLogic reached a similar conclusion.
Nationwide, values are back to their highest levels since November 2010. Clearly, the housing market in Massachusetts is moving in the right direction. Or is it?
Although the data from the government and from private firms such as CoreLogic is encouraging, it’s also flawed. As such, we have to be careful about the conclusions we draw from the data. (more…)