If you’ve downloaded the .pdf of the latest statistics showing average closed prices for June 2010, you can’t help but notice the not-so-insignificant upward bounce.  Giddy about the future in home prices?

You might want to take a look at the past June prices on the chart.  It seems that the March-June spring selling season is reflected in the closing numbers for June of every year.  It is a traditional bounce that happens on a repeated basis, and is then followed by a downturn in average sold prices over the period July through September.

So my sincere advice would be to keep an eye open for my July and August sold price updates, which usually occur between the 13th and 15th of every month.  These successive months are very telling and should point out clearly whether we are in a real market turnaround or whether the stats depict the regularly expected seasonal fluctuations.

The jury is out…