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Interesting article. Monitoring real estate prices, eastern New England does not feel like it is flattening out. And this does not take into account the inventory of foreclosures.
FHFA Home Price Index rose 0.9% in June
The FHFA home price index rose 0.9% in June on a seasonally adjusted purchase-only basis, and up for the third straight month. On a quarter-over-quarter basis, the index is down 0.6%. The New England and West South Central areas posting the strongest price 2Q gains while the Mountain region saw the weakest prices. The index still remains down 5.9% year-over-year and is down 18.8% from its April 2007 peak. Although the report is upbeat, the large supply of unsold homes for sale in a still weak housing market will likely add downward pressure on prices in the remainder of this year.