A Very Strong Housing Report

The latest S & P/ Case Schiller property values index shows a very strong 4.3% rise in home values between October 2011 and October 2012.  This was more than economists had expected.

The housing sector finally is helping the overall economy, rather than draining it.

The increase reflects record-low mortgage rates; low inventory; increased consumer confidence that the economy is improving; and a growing¬† population, many of whom would have bought in the last few years if we’d had a decent economy.