Gloom despair and agony on me – BE GONE! Yes I do tend toward the Pollyanna point-of-view, rainbows and unicorns and all that, but today's news was encouraging. Housing numbers for December have come in from the National Association of Realtors and the news is good according to MSNBC.com,
The National Association of Realtors said buyers stepped in to snap up
properties at steep discounts in December, especially in the South and
Midwest. Its seasonally adjusted index of pending sales for preowned
homes rose 6.3 percent to 87.7 in the final month of the year from an
upwardly revised November reading of 82.5. The news is welcome on Wall
Street where investors are looking for any signs that the housing
industry slide is slowing.
properties at steep discounts in December, especially in the South and
Midwest. Its seasonally adjusted index of pending sales for preowned
homes rose 6.3 percent to 87.7 in the final month of the year from an
upwardly revised November reading of 82.5. The news is welcome on Wall
Street where investors are looking for any signs that the housing
industry slide is slowing.
The housing news coupled with a better earnings report from several companies, the stock market is picking up somewhat today.
I've said for months that we've hit the bottom of the housing woes, but we didn't know if the bottom was "V" shaped or more bathtub shaped (long and deep)… Let's just hope this upward trend continues and we can begin climbing out of this old stanky bathwater.
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