The Turnaround is Near
A bevy of recent good news has hit the news wires lately. For our country’s sake, I hope it signifies a turning point in our economy.
Here are some of the highlights:
- Home prices are increasing. According to the Case-Shiller home price index, home prices in the quarter ended June 30th rose in 18 of the 20 cities that are part of the index.
- Consumer confidence is on the mend. A new survey from the Conference Board suggests that consumers’ views of the economy and expectations for the future improved in August.
- Sales of new homes is increasing. The U.S. Department of Commerce reported that sales of new homes rose 9.6% in July.
- Weekly mortgage applications are rising. The Mortgage Bankers Association reported that on August 21st, demand for applications increased 7.5% from the previous week.
All of this bodes well for the real estate market and the overall U.S. economy as a whole. Most economists are predicting that this quarter (ending Sept. 30th) we will have positive GDP growth and officially be out of the recession.
I don’t know about you, but I’m ready… are you?