From the Washington Post:
“The battered housing market appears to be on the mend, with sales climbing nationally and prices leveling off, even rising in some spots….On Tuesday, the Standard & Poor’s/Case-Shiller price index, a closely watched gauge, showed that single-family-home prices rose 0.5 percent from April to May, the first monthly increase since 2006. Earlier this week, the Federal government reported an 11 percent rise in new-home sales from May to June, the largest monthly gain in nine years.”

So, according to a key indicator of the housing market, for the first time in nearly three years home prices actually rose month-over-month across the nation. Foreclosures have slowed as well as lenders address new loan-modification programs, and economists think there’s now enough data to show that the housing market is recovering and even bottoming in some parts of the country. Even the conservative Wall Street Journal reports this indicator data as a possible “change in momentum” for the housing market.

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