ShirLee's Homes4SaleUtah BLOG

ShirLee McGarry's Homes4SaleUtah BLOG, features great articles for consumers, homeowners and Realtors® addressing community, local, state and national real estate news. Articles also include refreshing humor to encourage smiles and support for all real estate warriors in the trenches who do stand out to make a difference in their client's lives in the exciting and challenging world of the Realtor®. Penned by Associate Broker-Realtor®,and Registered Author, ShirLee McGarry® with RealtyPath in Sandy, Utah

Monday, March 26, 2012

Housing Bottom Has Come and Gone...

New Home Sales Down: Housing Crash Over..Slow Road To Recovery Ahead.

The housing bottom has come and gone. History will show that the actual housing bottom was late 2011.
From here forward, expect the road to full housing recovery to be choppy at best. It is predicted that late 2014 many major US housing markets will start actually appreciating again. (remember that word…appreciation?)

Mentally, emotionally and financially be prepared for housing news for the next 12-18 months to be mixed at best. Good news one day followed by bad news the next. This report about new home sales falling for February is further proof that the housing recovery has a rocky road ahead..

Sales dropped 1.6 percent to a 313,000 annual pace, the slowest since October, from a 318,000 rate in January that was weaker than previously reported, figures from the Commerce Department showed today in Washington. The median estimate of 78 economists surveyed by Bloomberg News called for 325,000.