Data in the foggy world of home prices have some saying home prices will bottom in 2013 and then gain buoyancy and others reading the depth gauge as already showing things rising.
Fitch, the ratings agency, said Thursday that it believes home prices may have another 7.8% to go down before finding a floor. At the same time, Housingwire.com said the RE/MAX National Housing Report declared that home prices were 3.2% above April and 5.9% over April 2011 in 53 metropolitan areas that it surveys.
Fitch cited unemployment and stagnant wages as two reasons it thinks the climb is a ways off.
RE/MAX liked a 25.6% reduction in the inventory since last year as well as news that foreclosures are down.
