By: Dennis Norman
I am going to be cautiously optimistic about the housing data I’ve been seeing and say that if the trends continue maybe, just maybe, we are near the bottom.
I’m saying this because of the increase in existing home sales report that I wrote about yesterday and the report released this morning by the U.S. Department of Commerce showing the sale of New Homes in February increased 4.7% over January sales. For my complete story on this report see the post on Real Estate Consumer News.
While it is going to take more then one month of increased sales to make a meaningful trend I think the reports for February are very positive. Even if we are “nearing bottom” I don’t think we’ll see much appreciation for some time and instead will probably spend a fair amount of time plodding along on the bottom. This fact should allow investors ample opportunity however to take advantage of some of the attractive deals out there.
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