Recent news is looking better for housing — New Home Sales up in January, existing home sales solid, housing starts almost touched 700,000 units and the National Association of Home Builders index rose. Other economic news looking better as initial unemployment claims staying around 350,000 well below recession warning level of 400,000 and University of Michigan Consumer Confidence gains. There is even a strong report on Phoenix coming after gains in the S&P/Case Shiller indices recently for one of the hardest hit cities during the housing bust.
Will we see house prices rise? While waiting for Tuesday remember that prices are probably one of the last parts of the housing puzzle to turn up — demand, sales activities and sales will raise first. The data will be released at 9 Am Tuesday New York Time.