Finally the media is easing up on their Real Estate Market bashing!
In the past 2 days you’ve been reading & hearing Home Sales Prices Rose & Contracts for Home Purchases Rose.
The most recent was the report by the National Association of Realtors stating an 8.2% increase in the month of May from the previous month. The index was 88.8 from April’s 82.1, which was a seven month low. A reading of 100 is considered by most economists to be a healthy housing market…. The last time it was at that level was April 2010.. but that was a false positive as it was at the end of the $8,000 Federal Tax Credit.
The real news is the National Housing Market is gradually ascending to normal levels.