Finally some good news from the floundering real estate sector. According to new information released by theNational Association of Realtors, after a five-year downward spiral June marked the third consecutive month of increases forsales regarding previously occupied homes. Additionally, both foreclosure sales and the plethora of available houses on the market decreased.
The positive information was officially released this past Thursday which fed Wall Street, and the result is that the Dow Jones industrial averages rose above 9,000 for the first time since the beginning of 2009. Speculators are stating that all this news indicates that the housing market, the main culprit of the economic slow-down, is finally on the mend.
The ultimate hope is that this new pattern continues and with it, consumer confidence will be strengthened and the entire economy will rebound. Experts have been setting realistic expectations stating that there is still a long road ahead until full recovery as unemployment and foreclosures have not fully peaked. However, this news is the first truly positive sign in a long time and the optimism can becontagious.
***Are you looking to buy a home before the housing market bottoms? If so, start researching and comparison-shopping your mortgage rates today. You can also let Go Banking Rates do all the hard work by providing you with free mortgage quotes from multiple lenders all at once. The process is easy and fast!***
