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More good news - real estate market picking up

2165 Views 28 Replies 17 Participants Last post by  HannahClark

WASHINGTON - The U.S. housing market has started to recover from the most far-reaching crisis since the Great Depression, data released Thursday shows. Sales of previously occupied homes rose for the third month in a row in June, the National Association of Realtors reported. That hasn't happened since early 2004, during the boom.
Foreclosure numbers are also declining, and inventory is declining as well. That means values will at a minimum, start to stabilize, and optimally, start gaining value again - HOPEFULLY at a rational pace now that we, presumably, have gotten over the "everyone deserves a home no matter how stinking awful their credit record is and how unlikely it is that they'll actually be able to pay for it" craze.
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In my area, attractive, well-priced homes are selling. But we still have a huge inventory of big, plain-looking vinyl boxes surrounded by those cheap, fast-growing little ornamental pear trees.

Hopefully, one outcome of this mess will be the weeding out low-budget builders.
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