Clear Capital: Home prices up during second quarter, down during first half of 2011

Home prices were up during the second quarter, but down for the year's first six months.According to Clear Capital's Home Data Index, the country's real estate market experienced a modest gain in home prices during the second quarter of the year. However, prices for the first six months were down.Overall, home prices appreciated by 0.9 percent during the second quarter – the first time in nine months the real estate market had experienced an increase. The gains are expected to boost five major markets even further during the second half of the year, including Washington, D.C., New York, Orlando, Dallas and San Francisco.However, despite the positive trend, home prices declined for the first six months of the year by 3.2 percent. Furthermore, experts anticipate a continued slide, as prices may fall another 2.4 percent before the year is finished.”At the mid-point of the year, it's promising to see the overall market shake off the string of declines observed since late last year, especially in light of significant challenges for the industry,” said Alex Villacorta, director of research and analytics at Clear Capital. “However, we have yet to see the burst in consumer demand to avoid posting a net loss in national prices for the year.”While Dallas' home sector is expected to experience gains, the Houston real estate market could also improve soon, as it has added a considerable number of jobs during the last several months, according to reports.Courtesy of 2M Realty News?

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