Data Begins To Support Predictions of Improving Housing Market
The evidence is finally beginning to accumulate, according to a new article in the New York Times, to prove that an improving housing market is finally upon us. Prices are rising, sales are increasing, home builders are clearing lots and bidding wars are even happening!
While the pace of the improving market may be slow, with many still underwater or facing foreclosure, many experts believe that the end of the housing market decline is upon us. They say we're starting to rise from the bottom and it will only get better from here.
Data this week helped support these predictions, with S&P/Case-Schiller Index showing that sales prices for existing homes increased in April – the first time to happen this year! In addition, the pace of housing construction has increased and pending home sales climbed to the highest level we've seen since September 2010.
What do you think? Have we finally reached the end of the declining housing market? Or are you still pessimistic about this prediction?