Is the rumor true, is the real estate market rebounding?
There are early indications that after years of depreciating values, prices in some areas are holding and are trickling up a bit. New homes being built are also on the incline. The inventories of houses for sale are the lowest in several years, increasing the sales rates for homes on the market. This and interest rates continuing their low trend have also benefited new home construction.
We are still far away from real estate boom times, especially in areas like Detroit, Florida and Las Vegas, but at least these early trends are something to be positive about. New home building always helps bolster the economy, in new jobs, manufacturing of business components, and resources.
If you want to dig into this more, see last week’s article at the Wall Street Journal.
