According to a National Association of Home Builder’s article posted in the Nations’ Building News September 8 edition, there is good news in the housing industry.
Recent date suggest that the market may be close to hitting the bottom, and on it’s way up! This recent report comes on the heels of the recent Housing Bill, which has appealed to homeowners and buyers alike in terms of affordability coupled with persistent growth of household income, not to mention the new $7,500 tax credit for first time home buyers, and low interest rates.
Existing home sales rose by 3.1% in July, and new home sales inched up by 2.4%. Some believe the cyclical low may have been reached in June, and are encourage by the recent statistics.
The construction industry has been hit hard with the rise in fuel costs, so we will continue to see a slight decline or flattened market in new homes sales.
The article not only laid out the cold hard facts, but was overall positive in the ultimate outcome and recent stats, laying out the pros and cons while remaining confident that homeownership is a tremendous investment.
To read the article in full, please visit http://www.nbnnews.com/NBN/issues/2008-09-08/Economics+&+Finance/3.html
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