The bottom in housing - Fueling demand

Posted by Steve Dalton / Category:

Looks like July was indeed the bottom, and demand is increasing in all regions for homes. This will take a good six months to begin the process of reducing inventories so prices can begin to recover.

If you are thinking of buying, do so now at the bottom, you won't want to miss it.
clipped from www.marketwatch.com

Pending home sales index rises 7.4% in August: NAR

WASHINGTON (MarketWatch) -- Despite the credit crunch gripping the U.S. economy, the National Association of Realtors reported Wednesday that an index of sales contracts on previously owned homes rose 7.4% in August from the prior month.

NAR says pending home-sales activity rose because of buyers taking advantage of low prices and affordable interest rates. August's results show an "unleashing of pent-up demand" before the credit crisis worsened in September, Yun said.
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