A Glimmer of good news in the Housing Market !
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hiGlimmers of good news in US housing reports
NEW YORK (AP) – While no one is ready to call the bottom of the worst housing collapse in decades, there were glimmers this week that the severity is waning.
The decline in home prices is starting to ease and in some cities values are starting to rise again. Existing home sales rose slightly from June to July, and the glut of newly built homes on the market fell to a five month low last month.
“The bottom of the housing downturn is coming into view,” said Moody’s Economy.com Chief Economist Mark Zandi.
A surprising 2.4 percent increase in new home sales from June to July reported Tuesday was really an accounting bounce because June was worse than first measured.
Home prices in 14 cities in a Case-Shiller index of 20 across the country showed improvement from May to June. Nine even recorded positive returns, including Dallas, Minneapolis, and Cleveland.
Some say the worst may be over for some markets like Boston, Chicago and Denver where prices have come down enough to be more line with local incomes and rents.
This is good news for Florida real estate buyers and sellers. Stability is key in decisions on bith sides.