Well, here’s a change: Today, I bring good news. Sales of existing homes actually increased in July, reaching their highest level in five months, according to the National Association of Realtors.
The sales of existing homes — which includes single-famiy homes, condominiums, townhouses and co-ops — fell 2.66 percent in June. This puts yearly sales down 15.5 percent, so far, from last year. And remember that everyone thought last year was a terrible one for home sales?
He’s a better actor than he is a governor, and that’s not saying much. But how good of an economic forecaster is Arnold Schwarzenneger? In about a year, we’ll know.
Then the housing slump came. And California is now suffering more than any other state.
The National Association of Realtors released their latest housing statistics earlier this week. And for the first time in a long time, the number of home sales actually rose.
Officials with the largest trade group serving real estate agents said that housing prices in 2008 should initially hold steady and then begin rising later in the year. Prices should increase in 2009, too, the association says.
At least one group of homeowners is benefitting from today’s buyer-friendly real estate market: those opting to move from pricey urban areas to less expensive rural ones.
It’s good news if you’re buying a house, terrible if you’re selling one: Housing prices across the country continued their fall in October.
Sometimes, no matter how hard you try, it’s impossible to spin bad news into good news. At least give the National Association of Realtors points for trying.
Next time someone tells you that buying a home is a safer investment than is purchasing stocks, remind them of one thing: Your stocks will never leak. Your kitchen sink will.
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Written by Dan Rafter [email] for b5media.
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