Home prices are still falling, reports CNN Money. According to the S&P/Case-Shiller Home Price Index, May home prices were down 15.8% from the same period last year. The index looks at 20 cities across the country.
Of course, home prices are largely local; prices in my Utah home town have barely dropped. But if you are in an area that has been hit by the housing market crisis, you might look around to see if you can find a good deal.
However, it is still important to look beyond the home prices. Consider the quality of the home, as well as its location. You want something that you will be able to re-sell if the time comes.
image credit: sxc.hu
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