The Wall Street Journal had an article Thursday talking about the housing market.
"Home Sales Rise but Gains Aren't Likely to Continue"
Basicaly it talked about how sales of existing homes increased slightly by 0.4% from October. This was judged as a "brief respite" by a Lehman Brothers Economist. A more optomistic view was from The National Associations of Realtors chief economist Lawrence Yun "Near term existing-home sales should continue to hover in a narrow range, just as the have since September, and that's good news because it will be a further sign that the housing market is stabilizing" The increase in home sales was the first since February of 2007.
This is the first good news reported in a major news outlet since the middle of the summer when the credit crisis begun. I know as an owner of a real estate company in CT we are seeing our inventory starting to move. More homes are going under deposit and the buyer showings have increased over the last few weeks.
It seems like we are moving in the right direction.
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