Is housing headed for a dreaded double-dip? Or are signs finally pointing to a long-awaited rally?
Despite the glum statistics recently, well-heeled buyers in many markets should feel comfortable betting on the latter.
Home prices nationwide in December were down more than 31% from their 2006 peak, according to the latest Standard & Poor’s/Case-Shiller index, including a 4.1% fall in 2010. And some economists see more weakness ahead, based on the so-called shadow inventory of foreclosures that haven’t yet been put up for sale.