Whenever I read something positive and worthwhile, there is an instant urge to tell someone about it. Of course ActiveRain is the first place I think about going to. Then it's the rest of my team and then the office...yeah, in that order. And today's news-worthy tidbit is no exception. Amidst the long faces in the office of those Realtors who may never of had to work in this type of market, this brings hope. And then there are the seasoned Realtors, who are true veterans and have been through it all, say, what housing bubble?...slow market?...what are you talking about?...ohh that news, well INBD (It's no big deal). Either way it's GOOD news.
Housing Bounces Back: Here are the Signs
Several factors suggest that housing is looking better, after a year when a slump has had a hold on not only housing but also economic growth in general.
Here are some of the signs that things are starting to look up:
- Sales of new homes soared 16.2 percent in April, the largest monthly gain in 14 years, reaching an annual rate of 981,000.
- Total single-family sales - both new and existing - during the first four months of the year have averaged 5.5 million, about the same pace as in the final four months of last year.
- Through May 25, the four-week average of applications for new mortgages was at its highest level since early 2006, according to data from the Mortgage Bankers Association.
To put the decline into perspective, nationwide home prices are up 29.2 percent over the past three years and 64.3 percent over the past five years. That should be enough to comfort consumers who might be worried about the value of their homes, say Business Week Magazine analysts,.
Source: Business Week, James C. Cooper (06/11/07)
Maybe the "Nay-Sayers" will have some fodder at the water cooler. Inventory is way up and everyone's looking for price reductions. What is your office like during this market?
I have to say our team has a very positive outlook and attitude. It is a pleasure to work with them on a daily basis. Keep on smilin'! :)
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