Another prediction of a housing turnaround
I’m finding more good news regarding the housing industry as I search the Internet these days. All I can say to that is, Hallelujah! It’s depressing writing about declining home sales and rising foreclosures every day.
The latest bit of good news comes courtesy of a story by the Reuters news service. In it, HUD chief Shaun Donovan said that the U.S. housing market is showing some signs of a recovery.
Donovan is careful to say that it’s far too early to predict that the housing recovery is underway. But Donovan did say that there are some early signs that both housing prices and the number of home sales are stabilizing.
Yes, in February, housing prices fell nearly 19 percent, according to the Reuters story. But for the first time in 16 months, that fall did not set a new record. That, Donovan says, shows that housing prices, though still fluctuating, are at least fluctuating around what he called a “relatively stable number.”
It’s a bit sad, I suppose, that a price fall that isn’t historic counts as good news these days. But in the tumultous world of residential real estate, I suppose we have to take our good news however we can.
