Tuesday, October 10, 2006
Housing market worst may be over!
Momentum now on the Up!
Reuters reported that at a recent conference in Calgary, Canada, former reserve Chairman Alan Greenspan was quoted as saying "I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,". Greenspan sites that applications for new mortgages were up which is a key indicator to strength in the housing market.
Pending Sales are Up
In further support of Greenspan's view, the National Association of Realtors released their Pending Home Sales Index report and it showed an increase of 4.3 % nationally with some regional numbers substantially higher. This should lead to more inventory being pulled off the market further strengthening home sales.
Reuters reported that at a recent conference in Calgary, Canada, former reserve Chairman Alan Greenspan was quoted as saying "I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out,". Greenspan sites that applications for new mortgages were up which is a key indicator to strength in the housing market.
Pending Sales are Up
In further support of Greenspan's view, the National Association of Realtors released their Pending Home Sales Index report and it showed an increase of 4.3 % nationally with some regional numbers substantially higher. This should lead to more inventory being pulled off the market further strengthening home sales.
Labels: home prices, House market, Housing Market, Real Estate Fall, real estate market
