June Case Shiller Housing Numbers Support Idea Of Low End Housing Bottom

August 25, 2009 at 9:51 am  ·  Category: Market Commentary, Real Estate

The widely followed Case Shiller index of home prices showed a sequential increase in home prices for June, marking the second straight month of sequential price increases for the first time since early 2006.  This supports the idea, which I’ve been writing about a lot here, that the lower end of the housing market is bottoming.

Bob Pisani, CNBC’s NYSE Floor Reporter, said this report is what is driving the positive action in stocks today.

case-shiller-month-month-change

case-shiller-index-chart

(Charts via BeSpoke Investment Group)

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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