The Ignorant Investor

Marcy Gordon of the Associated Press recently wrote that home prices inched up in the second quarter of this year, citing just released government statistics for the end of the second quarter.

Note that these were small price increases, not the price declines anticipated in the now expected housing de-bubbling. Yet what made the report newsworthy, and justifiably so, was that during the same period last year we saw huge increases in home prices. So we've got some kind of leveling off in house prices, but no big scary drops to fret over yet.

Note also that although these are the latest stats we have from the government on home sales, the information is months old. We now know what happened back in April, May, and June. But what we'd all like to know is what is happening to home prices right now.