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 photo credit: Tom Holbrook
Things may be turning around for us and our economy. As many of us know that the shin bone is connected to the knee bone, such is the case with our economy. The housing market is connected to the jobs market, the financial market is connected to the housing and jobs market. You cant have one without the other, and if one fails, they all fail, or at least see drops and declines. The good news is that when one starts to increase the others seem to follow suite. We are starting to see strong sales in the second quarter in the housing market.
Home prices are starting to stabilize and increase a little. It may not be much, but its a step in the right direction. None of us like to see home prices increase, but when its a sign that our economy may be recovering its a welcome event. In our second quarter, we saw increases. 155 metropolitan areas were studied and are referred to as metropolitan statistical areas (MSAs). They found 100 out of the 155 MSAs saw higher median existing single family homes prices. This was compared to the same time last year. 14 of the areas saw double digit increases; two were unchanged and 53 metros showed prices declines.
We also saw a 1.5 percent increase in the national median existing single family home price. It went from $174,200 in the first quarter to 176,900 in the second quarter. Also, 32 percent of homes sold in the second quarter were from distressed homes, which is down from 36 percent last year.
Read the full article from Realtor.org
Posted on September 13, 2010 15:28:48 by  IPTV.Boyz
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