Homes For Less Than $60,000! Stocks Edge Higher After Jump In Home Sales? What’s This Mean!?

So who’s got the REAL scoop on real estate?

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“The housing market has decisively turned for the better. We are bouncing back,” NAR’s chief economist Lawrence Yun told reporters. (Source: SFAR Advantage Online)

“Bay Area home prices spiked in the three months ending June 30, part of a national upswing that suggests to many economists that the housing market’s long downdraft is coming to an end.” [Biz Times]

“But Robert Shiller, a Yale economist and principle author of the report, said in published reports that the downturn isn’t necessarily over, pointing to an stabilization in his house-price index early last year that quickly evaporated.” [Biz Times]

Truth be told, nobody knows wtf is going to happen, just like nobody could put their finger on when the bubble would burst.

–More Bay Area homes sell for less than $60,000 [SFGate]
–Stocks edge higher after jump in home sales [Associated Press via SFGate]
–Sharp Rise in SF house prices [SF Business Times]

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