Home sales went on the rise last month for a 9.6% increaseduring the month of July.  This number exceeds all expectations of the market predictions and also is the fourth straight month to see a rise in home sales.  This is a great testament of the market making a turn for the best.  Sales have actually risen 32% since January of this year. 

So where are we at now with these increases compared to the markets peak four years ago.  In truth we a 69% below in home sales from this point four years ago.

No need to despair however.  The numbers that came from July are truly impressive and indicative of the markets turn around.  There hasn't been such an aggressive pace in sales since September, and as I said the volume of home sales was much higher than predicted by economists.

Number of homes for sale towards the end of July fell at 271,000, which is actually 3% lower than in May.  If the current pace of sales continued the volume of sales would be exhausted after seven and a half months. So what does this mean for you? Construction has been slowed to compensate for the volume but this could also mean that the balance between supply and demand are coming back into order.  Certainly this brings excitement as we all wait to see how the markets will be at the end of the year.

What are some of your thoughts on the markets recent actions.  Do you feel that some form of sizable improvement could be possible soon?