Maybe we are seeing some improvement in the housing market?!! 

Recently I have seen articles indicating that although the housing market is still weak and perhaps weakening overall, certain segments of the national market have seen significant improvement.  Most noteably is a year-over-year improvement in sales of existing homes and pending home sales in places like California, Detroit and Minnesota.  We all know what those markets have been like as they represent some of the worst during 2007-2008,  But local numbers in those markets are showing significant improvement.  Specifically, Detroit sales increased almost 30% in October 08 vs 07, and pending sales in Detroit were up almost 50%!!  This may not hold up if the auto makers go Chapter 11, but for now the news is good. 

Also, the CEO of Citigroup recently held a meeting with Citi employees (where he announced 52,000 layoffs!!) and he said "their data suggests the housing market curve is starting to bend".  More positive signs that we may be seeing a slow but overall improvement in the market.  What have you heard?

Thank you,

Richard 

Comments in this blog posting are the intellectual property of Richard Acree, President, HABITEC Home and Building Inspections, LLC, and contributing members of the Active Rain Real Estate network, and are intended to educate and otherwise assist home owners, sellers and buyers, building owners, sellers and buyers, realtors, real estate investors, property managers, and lenders in the process of owning, buying or selling homes or commercial buildings.  HABITEC is a residential (home) and commercial building inspection company serving Middle Tennessee including Nashville, Brentwood, Franklin, Murfreesboro, Smyrna, Mt. Juliet, Hendersonville, Dickson, Belle Meade, Columbia, Spring Hill and more!  In addition to building inspections HABITEC offers Environmental Services for mold assessments, radon testing and water quality analysis.  Additional information about HABITEC can be found on our website at www.habitecinspections.com, or call 615-376-2753. 

Richard Acree is the author of the HABITEC Home and Building Inspections Blog and founder of the ActiveRain Group Tennessee Home and Building Inspectors.  All are welcome to join and see more blogs like this one.