It's probably the million dollar question to anyone in the real estate industry, as well as anyone with designs on buying a new home for their family.  We've seen sizable increases in the number of sales happening, as well as some price stabilation in areas of Ventura County.  Will this good news for housing continue with the economy losing hundreds of thousands of jobs, the stockmarket in freefall, and all this talk of a deep recession?

Cheif economist, Lawrence Yun, with the National Association of Realtors was asked to comment on the housing market and he had this to say:

"We are in a recession," Yun said. "In the next six months, we may lose up to 1 million jobs. But the good news is, historically housing moves independently from the economy. We are seeing a 20 percent improvement in home sales in states like California, Florida, and Virginia. The economy will not improve without a housing recovery."

Mr. Yun is surely smarter than I am when it comes to economics, but it was my experience that the housing market hasn't followed the economy in the recent past.  I guess only time will tell, but there does seem to be some significant moves in the right direction happening in housing right now.

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