Home Prices Appear to be Leveling

June to July marked the first time this year the list price per square foot did not increase in pre-existing homes for sale, which could translate into home prices falling, and perhaps putting to rest the fears of another housing bubble. Movoto Real Estate says the steady list price month-over-month may also indicate supply of homes is beginning to catch up with demand. While inventory fell 16.2 percent from July 2012, it rose four percent from June to July, typical for this time of year when many houses change hands. Additionally, as HousingWire informs MHProNews, rising mortgage rates combined with increased inventory will also slow home price appreciation.

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