Monday, November 13, 2006
Housing market surges toward collapse.
Asking prices for UK homes jumped up by 1.3% in November, according to the latest Asking Price Index report from Home.co.uk. This further rise in the national average means that house prices have increased for three months in succession and is a sure sign that sellers' confidence is growing. A three month rally in asking prices signals an up-lift in market sentiment and a new upward trend, but the timing couldn't be worse.