The short article below is written by John Spence and James Hagerty it was in the Wall Street Journal. They point out that there are signs of recovery. However one thing they are not talking about is interest rates. It seems that the bond markets have noticed the alarming spending binge our government has been on and due to that we are seeing interest rates move upward. Where and when will they stop? Who knows. If you are thinking of buying be sure to apply and lock in your rates! Give us a call we can help you make the right decision.
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The Two Latest Signs Housing Is Recovering Here’s more evidence that the housing market is recovering.Two major home builders, Toll Brothers Inc. and Hovnanian Enterprises Inc., say their losses were shrinking compared to last year because buyers are coming back to the market.Other encouraging news came from IHS Global Insight, a research firm, which said home prices fell on average at an annual rate of 2.2 percent in the first quarter in 199 of 330 metropolitan areas. That compares with a 12.5 percent decline in the fourth quarter of 2008 in 312 metropolitan areas."While it's too early to see a bottom of this housing downturn," the report said, the latest data "may signal that the market is beginning to stabilize."Source: The Wall Street Journal, James R. Hagerty and John Spence (06/04/2009)
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