Just another sign that the housing market is stabilizing, single-family home prices inched higher in March which was the second month of gains in a row.
Falling short of what economists' had forecasted, which was a gain of 0.2 percent, the S&P/Case Shiller composite index of 20 metropolitan areas only gained 0.1 percent in March. Granted that's not a huge increase, but it is a step in the right direction.
Many economists feel that the housing market has bottomed out based on readings in new home construction and sales of previously occupied homes, but the market still has a long way to go.