Housing Market Passes a Milestone

July 30, 2012

According to the Wall Street Journal, the housing market has turned….at last!

The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing.

“We finally saw some rising home prices,” S&P’s David Blitzer said a few weeks ago as he reported the first monthly increase in the slow-moving S&P/Case-Shiller house-price data after seven months of declines.

“Nearly 10% more existing homes were sold in May than in the same month a year earlier, many purchased by investors who plan to rent them for now and sell them later, an important sign of an inflection point. The fraction of homes that are vacant is at its lowest level since 2006.”

This is great news for our economy! For new homebuilders across the country this means we can now return to focusing on what we do best, building quality homes at fair prices for families who want to own their piece of the American dream.

It also means many Americans can get back to work. The housing industry drives so many other important entities of employment. Construction workers and contracting crews, realtors and mortgage lenders, landscapers and pool builders are all affected by the housing market.

At Neal Communities we have long understood that the housing market plays an integral role in the overall strength of our society. We also know that it is more than numbers on a spread sheet that dictate what is going on in the housing market. It’s smiles on children’s faces when they go to bed at night; it is a sense of comfort and security their parents feel knowing they are safe; and it is a sense of pride that comes only from home ownership.

While the housing market may have been weak these past several years, there was never any doubt in our minds that it wouldn’t make a triumphant recovery. People need and want a place to call their own. We see that every day in the faces of our homeowners.

No Comments »

No comments yet.

RSS feed for comments on this post. TrackBack URL

Leave a comment

You must be logged in to post a comment.