Home Resales Climb Higher
The housing market has been one of the weakest parts of the U.S. economy, but there are signs it is starting to recover after a price collapse that began 5.5 years ago. In 2011, about 4.26 million homes were sold, up 1.7% from 4.19 million in 2010. Seeing an increase in home sales is very encouraging to me because you have to have pretty high consumer confidence to buy a home, possibly the biggest purchase of your life. Hopefully this is a sign that the economy is on the up and we will see continued growth in the economy for the months to come.
2 comments:
It has long been said that the housing market was responsible for the economic collapse and therefore would be responsible for it popping back up. Hopefully, over the next year or so the housing market will continue to rebound
I'm glad that the market that was hit very hard and was hit first is showing signs of improvement. Its also good that economists are encouraged from these numbers because sometimes reports come out that look good, but are not as encouraging when economists explain what they actually mean.
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