Home prices are down but sales are up. During the last six months of 2010, home prices went down 6%. This sent the prices to the lowest levels in the "post bubble period" as reported on Tuesday by Case-Shiller. The next day (Wednesday) the National Association of Realtors reported that sales of existing homes increased for the third straight month. This may seem to be conflicting data. There is a simple explanation for this, 26% percent of all homes sold in 2010 were foreclosures and short sales as reported by RealtyTrac as released on Thursday.
The good news is that we do not have a double negative, where you have both sales prices and home sales down.
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