July 24th, 2012
It appears that the housing market has reached its bottom, as Zillow reports that its home value index rose on an annual basis for the first time since 2007. During the first quarter of 2012, home values were 0.2 percent higher than they were during the first quarter of 2011.
The increase, though small, suggests that things are looking up, and home values have risen for four consecutive months. Despite job uncertainty, it seems that low mortgage rates and home values are pushing people to buy now.
Home foreclosures were also down again in June, continuing the steady decline that began in January.