Last week, the housing market got a boost from the latest S&P Case-Shiller Home Price Index. The report showed a much stronger surge in existing home prices for the month of June, good news for all of us that have been pondering the sale of a house.
Housing prices showed their surprise spike because people are out there looking again, it’s as simple as that.
Demand for homes will continue to exceed inventory for the next year as more buyers hit the market, we know that. But rising prices combined with lower interest rates are going to give those of us that have been waiting for the opportunity to “downsize” our chance.
Here’s what you should expect.
This post originally appeared at Money Morning.