There seems to be a plethora of positive news being reported recently about the much needed recovery of the housing market. One of the more positive notes is the slight resurgence of the new home industry. Typially new home sales suffer with excessive inventory, so the reports of a 3.3% increase in new home sales from March to April was welcome news. Another positive note reported was a slight increase in average sales price as well for these new homes. When buyers return to the new home communities it also has a greater economic impact as well, helping to employ more workers.
Naysayers still run rampant among the general popoulation and perhaps the recovery is being overstated at times by those grasping for good news. However, there are now too many good signs to ignore that if nothing else the housing market appears in most regions headed for stabilization and perhaps some growth again. The feared shadow inventory and double-dip recession have yet to materialize. Being a contrarian to pervasive thought is commonly a recipe for success and this again looks to be a case of those who were burned before missing out on a potential opportunity. If nothing else these individuals who proclaim renting is by far the best way to go will make their landlords happy for some time to come.
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