Positive Signs in the Real Estate Market

Real Estate Numbers Looking Better … This Week

 

Ø  Resales of existing homes jumped by 5.5 percent last week -- that was the largest monthly increase since July 2003, in the middle of the housing boom. In the western states, sales were up a record 34.4 percent!

 

Ø  Sales of newly constructed homes also were higher in the latest month, according to the Census Bureau -- up by 2.7 percent on average nationwide, but by an impressive 22.7 percent in the West.

 

Ø  A quarterly survey by the Wall Street Journal released last week found inventories down in a majority of the 18 markets studied.

 

Ø  Across the country, the backlog of unsold but listed houses dropped 1.2 percent to a 9.4 month supply last month, according to the National Association of Realtors^® -- that was down from an 11 month supply the previous month.

 

Ø  One week of good news does not mean we're officially in turnaround mode … But you've got to start connecting the dots. Week after week, month after month, housing and real estate numbers are starting to look better and better.