Home Values on the Rise: Good News for Economy?

Rob Nelson discusses the new report on a key factor in the economic recovery.
3:00 | 09/26/12

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Transcript for Home Values on the Rise: Good News for Economy?
A whole lot coming up. Let's start with the good news on the economy from josh. Indications that home values and the economic recovery are on the rise. But who is benefitting the most? Abc's rob nelson looking at trends. Good morning to you, rob. Good morning, josh. Good news for so many feiolks out there. We got data from the 20 biggest cities in the country. And home prices are posting the strongest gains since 2007. In the first seven months of this year, prices in those cities have gone up nearly 6%. On top of that, some of the biggest gains in value, are coming at the low end of the housing market. That means the less expensive homes, hit hardest by the downturn. We're not out of the woods just yet. Prices are still down 30%, compared to before the recession. But every improvement helps boost homeowners' defeconfidence. That makes them more likely to start spending again. Some reasons to be encourage, josh.

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