Housing data give reason for optimism
The weak housing market has long handcuffed the economic recovery, but new data released today suggest a housing recovery may be gaining steam.
The latest S&P/Case-Shiller Home Prices Indices show home prices nationally were up 1.2 percent in the second quarter versus 2012, and up 6.9 percent from the first quarter of the year. In the New York metropolitan area, June home prices rose 2.1 percent over May of this year, though that represented a 2.1 percent downshift from a year ago.
Jeffrey Otteau, president of Otteau Valuation Group Inc., in East Brunswick, said New Jersey’s housing market is in a similar, relatively good spot. (Kaltwasser, NJBIZ)
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