I throught this was a great article to share with everyone interested in the housing market. This is my first year as a Realtor so I am looking forward to the housing market to return which will help me build a strong business. If you are planning on moving to the Charlotte NC or Fort Mill, SC area, check out my website: www.arbiehomes.com
Trulia says we are not there yet. Here’s what their February data, released last week, shows:
— Construction starts: 22% of the way back from their low in Apr 09 toward their normal level.
— Existing home sales: 47% of the way back from their low in Nov 08 toward normal.
— Delinquency + foreclosure rate: 32% of the way back from their high in Jan 2010 toward normal.
To get to a single number that’s easy to remember and track over time, we just average these three percentages together. If all three indicators were at their worst, the barometer would be at 0%; if all were back to normal, the barometer would be at 100%. The February 2012 data puts us at 34%: in other words, the housing market is one-third of the way back to normal.
To read the entire article written by Jed Kolko, Trulia's Chief Economist, go to http://pro.truliablog.com/news/are-we-there-yet-trulia’s-housing-barometer/?ecampaign=anews&eurl=pro.truliablog.com%2Fnews%2Fare-we-there-yet-trulia%E2%80%99s-housing-barometer%2F
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