Nationally Existing Home Prices Rebound..but Prices Plunge!

Even if you don't want to read this entire Wall Street Journal article, here are some important quotes and tidbits from it:

"The improvement in housing sales and starts seem to indicate the market may finally be finding a bottom," said Joel Naroff, president of Naroff Economic Advisors. "I expect sales to start picking up over the next few months. The markets should like this and should react positively to the actions being taken to try to free up lending."

"The report on the 5.1% jump in existing sales across the nation comes about a week after the government said home construction rose for the first time in eight months during February, up 22.2%. Some analysts say the sector might not worsen, considering government efforts to aid the economy."

Fingers crossed for our world, national and local economy. Many believe that we will not get out of this economic mess until housing sales pick up...