Housing Market Begins to Climb Out of Slump

The rumors of a housing comeback are becoming reality as housing sales are beginning to climb and prices are beginning to increase.  David Wessel of The Wall Street Journal reports that "The U.S. has moved beyond attention-grabbing predictions from housing "experts" that housing is bottoming.  The numbers are now convincing."

The rumors of a housing comeback are becoming reality as housing sales are beginning to climb and prices are beginning to increase reports David Wessel of The Wall Street Journal. (click to enlarge)

The inventory of unsold homes is shrinking contributing to the market's comeback.  Housing construction is also up by 26% since spring of last year which has contributed to the economy’s growth recently.

Experts agree that even as the economy slows a bit, the recovery of the housing market is steadily gaining momentum.  The majority of economic forecasters agree that the housing market has bottomed out.

References:
http://online.wsj.com/article/SB10001424052702303644004577520414196790098.html#printMode