Cleveland Posts 3% Increase in Home Prices:“The Biggest Winner,” Says CNN

There may be some hope on the horizon – CNNMoney.com reports that Cleveland posted modest home price gains in March. While prices have continued to drop on a year to year basis, the monthly data shows that price declines are slowing or actually increasing in some cities such as Cleveland. “Hard hit Cleveland was the biggest winner with prices up 2.9%,” the article stated, analyzing sales data from March to April. The article also reports that investors have been buying up distressed properties and Dean Parker, Co-Director of the Center for Economic and Policy Research is quoted as saying “The data suggests that Cleveland as found bottom.” If this is true there is only one way left to go, and that’s up!

SEE ALSO: The Plain Dealer "Cleveland area housing prices up first time in year"