there is light at the end of the tunnel. all news sources are reporting that this summer is the turning point for the housing market. although still depressed, the housing market is on the mend. interest rates are still at a record low, prices are low but are on the rise in the top cities in the U.S., which is stimulating demand. supplies are slowly diminishing and clearing the back-log of listings. here is a great article by bloomberg that delves deeper into stats.
another topic that is hot these days are new homes. new homes and communities are sprouting all over baltimore and around the rest of the country. dsnews.com is reporting from the national association of home builders’ (nahb) confidence is the highest it has been in 5 years. and this is a great thing. we know that the housing market is huge part of our national gdp. people buying existing homes is one thing, but people buying new homes actually creates more jobs– which we all desperately need.
need more proof? here is another great article on how long experts are predicting how long it will take for all of the inventory of homes to clear.