Housing Market Stabilizing

I read this on MSNBC.com this morning and wanted to share it with you. Looks likes stabilizing home prices will stem from the foreclosure crisis, this according to data released Tuesday.
Read the article below...

Home Sales Climb, but at a Sluggish Pace
Median Price for existing homes off almost 17 percent from a year ago.

updated 6:27 p.m. CT, Tues., June 23, 2009

Nationwide home sales may have finally hit bottom, new data show, but a host of thorny problems are hindering any recovery.

Sales of previously occupied homes rose by 2.4 percent from April to May — the third monthly increase this year — but the results missed analysts' expectations.

Home sellers are still competing against a growing number of bargain-priced foreclosures, buyers are paying higher mortgage rates and new rules for property appraisers are delaying or scuttling many deals...

Click Here to Read Full Article on MSNBC.com