Good news maybe.
U.S. home prices climbed again in July as some of the country's worst-hit housing markets showed signs of recovering. Prices rose a seasonally adjusted 0.3% in July, up from a revised 0.1% in June, the Federal Housing Finance Agency said. But prices, which fell 4.2% for the 12 months ended July 31, are 10.5% below their April 2007 peak. Much of the recent activity in the housing sector has been from first-time home buyers wading into the market to take advantage of an $8,000 tax credit.
Source: WSJ
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