According to the most recent data, it appears we may have hit bottom in the housing crisis! After one of the worst housing recessions anyone can remember since the great depression, things appear to be improving!
What does this mean to consumers? To sellers it may be the beginning of the end of stagnant sales, declining prices and maybe, just maybe the ability to get more for their homes than the previous year. However, the experts are saying that we may be bouncing around the bottom through the end of the year.
What does it mean to buyers? In my opinion it means they better get their buns in gear and BUY A HOUSE! It is the beginning of the end for this strong Buyers Market. With the housing market improving it could also be one of the first signs that our economy is starting to rebound out of the recession. What happens after a recession? Inflation and interest rates go up! Basic economics!
All in all it is good news. After what we have experienced over the last two years, it shows how important the housing industry is to our economy.
For those of us who have weathered the storm we will be able to look back and say, "I remember the worst housing disaster in our history"! Looks like we made it!
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