(NY Times) After Years of False Hopes, Signs of a Turn in American Housing Market

Posted by Kendall Harmon

Announcements of a housing recovery have become a wrongheaded rite of summer, but after several years of false hopes, evidence is accumulating that the optimists may finally be right.

The housing market is starting to recover. Prices are rising. Sales are increasing. Home builders are clearing lots and raising frames.

Joe Niece, a real estate agent in the Minneapolis suburb of Eden Prairie, said he recently concluded a streak of 13 consecutive bidding wars over homes that his clients wanted to buy. Each sold above the asking price.

Read it all.

Filed under: * Economics, PoliticsEconomyHousing/Real Estate MarketThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryAmerica/U.S.A.

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Posted June 28, 2012 at 6:14 am [Printer Friendly] [Print w/ comments]
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