Lawrence Yun, NAR chief economist, said these are early signs of what may be a sustained recovery. “The pattern of home sales in recent months demonstrates a market in recovery,” he said. “Record low mortgage interest rates, job growth and bargain home prices are giving more consumers the confidence they need to enter the market.”
http://www.realtor.org/press_room/news_releases/2012/01/ehs_dec
Some bright spots for new construction are appearing on the horizon according to Lawrence Yun, Chief Economist and Senior Vice President of Research for the National Association of REALTORS®.
Read the information in this link about the “faster return to healthier markets” that Mr. Yun sees ahead of us.
http://economistsoutlook.blogs.realtor.org/2011/09/15/lowest-housing-starts-since-world-war-ii/
