Housing Market on the Way Back Up says Trulia

That’s the word, according to this AGBeat article.

The article points out that home prices and rents are on the rise again, and it also points out that the single-family housing market is in recovery mode:

“The single-family market has already begun to recover,” observed Dr. Kolko. “New home starts are more than 30% higher than their low in early 2009. And asking prices on for-sale homes (single family + condo) have risen for three months in a row, according to the Trulia Price Monitor.”

Here is another interesting quote that also contains a note of caution:

“Housing prices have already bottomed with asking prices on the rise for three straight months. Aside from a stumble in December, asking prices have been stable or rising for the last eight months,” said Dr. Jed Kolko, Trulia’s Chief Economist. “Prices have joined the recovery, alongside sales and construction. But foreclosures threaten prices, especially in judicial-foreclosure states like Florida, New Jersey, Illinois and New York, where many more distressed sales are still to come.”