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Cindy Perman writes for CNBC.com. She reports that according to an
industry survey published Thursday, sales of previously owned homes in the United States increased at a faster-than-expected annual pace in June, in the third straight month of gains.
The National Association of Realtors (NAR) said sales rose 3.6 percent. The NAR said it was the first time the industry had experienced three straight months of gain since early 2004, providing hope the higher numbers indicate a trend. Also, the inventory of existing homes for sale declined 0.7 percent.
“Overall, the news is positive. We have increasing home sales for the third straight month, declining inventory, and although prices fell, they declined at a less steep pace,” said Lawrence Yun, NAR chief economist.
“The housing market is healing after four years of recession,” he said.
In a second article published by Reuters, a new report names five U.S. states poised to lead the nation out of recession, and guess which state tops the list? Colorado! Idaho, Oregon, Texas and Washington round out the top five.
These five states are the ones where job growth is expected to sprout first — in the fourth quarter of this year — according to Moody's Economy.com, which conducted the survey. The criteria for the survey included the labor market, income, credit quality/banking, real estate and consumer spending. Moody's conducts a regional employment forecast as well as an “adversity index” to gauge the status of state economies.
industry survey published Thursday, sales of previously owned homes in the United States increased at a faster-than-expected annual pace in June, in the third straight month of gains.
The National Association of Realtors (NAR) said sales rose 3.6 percent. The NAR said it was the first time the industry had experienced three straight months of gain since early 2004, providing hope the higher numbers indicate a trend. Also, the inventory of existing homes for sale declined 0.7 percent.
“Overall, the news is positive. We have increasing home sales for the third straight month, declining inventory, and although prices fell, they declined at a less steep pace,” said Lawrence Yun, NAR chief economist.
“The housing market is healing after four years of recession,” he said.
In a second article published by Reuters, a new report names five U.S. states poised to lead the nation out of recession, and guess which state tops the list? Colorado! Idaho, Oregon, Texas and Washington round out the top five.
These five states are the ones where job growth is expected to sprout first — in the fourth quarter of this year — according to Moody's Economy.com, which conducted the survey. The criteria for the survey included the labor market, income, credit quality/banking, real estate and consumer spending. Moody's conducts a regional employment forecast as well as an “adversity index” to gauge the status of state economies.
Housing is another factor
All five states had above average household credit, which left them in shallower holes than other states, like, say, California.If you're wondering where your state is in the lineup, Moody's has a list of “next wave” states to show signs of recovery.
The second wave, expected to hit in the first quarter of 2010, includes Alabama, Georgia, Nebraska, New Mexico, North Carolina, North Dakota and South Dakota.
The third wave, expected to show growth in the second quarter, inlcudes Alaska, Arkansas, Iowa, New Hampshire, South Carolina, Tennessee and Wyoming.
Tecnically, one of those states still showed enough growth (as of the end of March) it wasn't technically in recession. Can you guess what it is? You betcha, it's Alaska.
The impact of the housing crisis could also be a factor in California, Florida, Arizona and Nevada, causing those states to be slow to recover.
Good news for Colorado, good news for real estate. Let us answer the questions you may have about this real-estate market, or the real-estate market where you live.
Butch Elich and his team includes associate broker, Paula Parker. Find them on the Web at www.elich.com, or at RE/MAX Properties of the Summit, 305 Main St., Frisco.
