The recent upward shift in home prices is causing some ambivalent homeowners to seriously consider selling. A common dilemma is when to sell. Is the recent uptick in the market a blip or the beginning of a trend? Should you sell this year or next or perhaps even years from now?
After declining every month for nearly three years, the Standard & Poor’s/Case-Shiller 10-City Composite Price Index for the U.S. rose 3.6 percent between April and July following a 4.8 percent decline for January to April. This represents a big and sudden change — probably due to near record low interest rates, the $8,000 first-time homebuyer tax credit and a change in buyer psychology.