The good news keeps rolling in about the small but important turnaround underway in the home real estate market.
Last week’s headliner was the second straight monthly gain in pending home sales — up nearly 11 percent in the Northeast, 15 percent in the Midwest, and 4.4 percent in the Southern states. Only the Western region saw a decline at 13.5 percent.
On top of that, the ability of consumers to buy a house, as measured by the National Association of Realtors’ Affordability Index, hit a record new high last month thanks to declining home prices and record-low mortgage rates.
To put it bluntly: Median priced houses haven’t been more affordable to more households in decades!
Click here for the full report…
by Kenneth R. Harney, Published: April 7, 2009
