On The Road To Normalization

Ah, the dog days of summer. Many are taking advantage of their last chance this season to sit on the beach, hike in the mountains or laze by the pool before the kids go back to school and everybody has to go back to work. Well, while a lot of us have been on vacation, the housing market has been relatively busy compared to earlier this year and even last year at this time. Indeed, recent figures on home sales – both pending and closed indicate that housing market recovery prospects have improved considerably. Pending home sales (contract signings) in June released earlier this month rose again for a fifth consecutive month. We’ve also seen downward trends in housing inventory and distressed property home sales. Both of these developments suggest that the market is moving back towards more normal conditions. (an exerpt from a great article...if you would like the entire article, email me at cheryl@cherylschopf.com)

By Lawrence Yun, Chief Economist, NAR Research


Posted by Cheryl Schopf on 08/24/2009
Pin It