Although house prices continue to tumble year over year, and analysts expect prices to continue to drop as the months roll by, April marked an ever so slight nudge in the opposite direction. Previously owned single-family home prices rose 0.7 percent from March, according to the Case-Shiller index, which examined sales in 20 cities.
The Los Angeles Times reports that although the analysts say prices will still trend downward, the fall will be less sharp than before. An analyst says that prices will continue to slip while buyers gobble up ample foreclosure properties.
If you’re in the market for a house, it seems that the longer you wait, the better deal you’ll manage to find. If you’re timing the market to either make sure you buy a house as cheaply as possible or avoid selling at a low point, how long are you looking to wait?
Home prices edge up in April from March but fall from April 2010 [Los Angeles Times]