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Standard & Poor's price index ticks up....

According to Standard & Poor's/Case-Shiller home index, which tracks 20 large cities, home prices ticked up 1.6% in July from June. This represents the third-consecutive month of bolstered prices. Home prices rose for the first time in three years in May.

Here in Lee county the August sales information is out and sales of single family homes for the month are up 83% over the same period last year. After several years of a slow market this is very favorable news. Although the median income has dropped substantially, the lower prices and high number of foreclosure and short sales have attracted first time buyers, second home buyers and investors back into the market place.

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