Has The Housing Recovery Begun?

alexandra Real Estate Leave a Comment

I’m not sure that any of us have the information to answer that question, but the Associated Press offers evidence for a compelling argument that the worst of our housing woes are behind us. Some gems worthy of cutting and pasting:

1. For the first time in five years, sales of previously occupied homes rose for the third consecutive month in June, while foreclosure sales and the glut of homes on the market both declined.

2. Sales also have risen for three straight months in 40 out of 55 major metropolitan areas tracked by the Associated Press-Re/Max Housing Report, also released Thursday. Prices rose during that period in about half of those areas.

3. Home sales rose 3.6 percent to a seasonally adjusted annual rate of 4.89 million last month, from a downwardly revised pace of 4.72 million in May. Sales are now around the same level as before last fall’s financial crisis.

While it’s too soon to draw any definitive conclusions from an article whose main sources were the National Association of Realtors (full disclosure, I am a member) and ReMax, the numbers are what they are. I don’t think that there’s such a thing as “”timing the market perfectly””, but if you’re one of those buyers that believes that this is possible, now might be the time for you to make some moves.

About the Author