Housing Recovery May Not Come Until 2020
NEW YORK (MainStreet) -- It really is a tale of two trends when it comes to the U.S. housing market.
Over the short term, things are looking a bit better: According to the Standard & Poor's Case-Schiller Home Price Index, the housing market has shown four straight months of home value growth, with S&P's 10-city and 20-city indices, both up 0.9% in July. The Case-Schiller reading, taken Sept. 27, shows that even sluggish markets such as Detroit and Minneapolis showed improvement on a month-to-month basis.
|Analysts see a long road to recovery for U.S. housing, lasting until 2020, and that's the optimistic view.|
"With July's data we are seeing not only anticipated monthly increases, but some fairly broad improvement in the annual rates of change in home prices," David Blitzer, chairman of the index committee at S&P Indices, said in an official statement. "While we have now seen four consecutive months of generally increasing prices, we do know that we are still far from a sustained recovery."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV