Home Prices Reach 2003 Levels

This summer, home prices rose to 2003 levels according to S&P/Case-Shiller.  In July, home prices rose by 1.5%– and while this doesn’t necssarily signal another market boom, it does indicate that the market may be coming out of its bleak period.  The prices in 20 major markets have risen for the past three months; foreclosures are down; inventory is also down.  This could signal a great change for the real estate market, though Buffalo has been largely immune to the housing crisis.