Thursday, July 23, 2009

Thank God! Housing Market Starting to Rebound

The National Association of Realtors reported earlier today that sales of existing homes are up for the third month in a row. There is still a glut of homes on the market - particularly in neighborhoods such as Warrendale - however, the fact that we are seeing some improvement is very promising.

In related news, the Dow Jones Industrial Average rose above 9,000 for the first time since early January. This was due to a combination of factors, such as the improved housing numbers and improved earnings by companies such as Ford Motor.

It will unquestionably take some time for all of this to be truly noticeable at the neighborhood level. However, it gives me hope that we have at least hit bottom and are starting to climb upwards.

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