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Housing-price rebound persists; experts split

San Diego Union Tribune -- Housing prices in San Diego and other major markets rose for a third straight month in July, prompting economists locally and around the country to debate whether stability has arrived and recovery comes next.

The Standard & Poor's/Case-Shiller Home Price Index rose 2.5 percent from June to July for San Diego, the biggest one-month boost in four years. If that rate continued for a year, it would yield a 30 percent rise in prices and return them close to their all-time highs in late 2005.

...Despite the rise since the spring, University of San Diego real estate professor Norm Miller said he believes turmoil will continue to roil the housing waters.

“I do think the positive numbers in Case-Shiller are a blip that will be reversed when we get to the October-November release,” Miller said, citing an expected wave of foreclosed properties put up for sale. (Full Story)