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Good News for Housing Market
Read this today at Debe in Charlottes site and thought I would reblog it and share it with everyone.
Good News for Housing Market Being cautiously optimistic has become the 'trend' for those of us remaining in this turbulent market. Sometimes the news is so negative that we have to go a bit overboard to 'prove' that there really are points to be positive about in this market. Alas, we have some good news--in print! In a recent article from CNBC regarding the improving U.S. housing market, key points revealed are as follows: 1. Economists believe that the market may be in recovery mode by end of second quarter '09. 2. 30-year fixed mortgages are near historic lows that have not been seen since spring, 2003, very briefly. 3. Even before the recent decline in mortgage rates, the NAR's housing affordability index was at a high for the year. 4. Sales of existing homes are down sharply from their peak in 2005 however, the annualized sales rate has steadied in Q4. 5. Inventory has decrerased from April's high of 11.2 months to 10.2 months and continues to trend downward.
Read the entire article.
Sam Zell, a real ... more
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