The Dow Loves Positive Housing News

It’s no secret that all eyes are on the state of the housing market as the search for the answers to America’s financial crisis continues. This was evident in an article posted recently by the New York Times explaining that the Dow reacted positively to an encouraging report on housing sales.

 

 

The report showed an increase of 2.7 percent in new homes sales in September. 

 

 

 As we know, construction of new homes has all but halted, so we are now working toward eating away at the new home inventory, and the current price reductions are prompting that. As Frothing Developer mentioned earlier, if only it were easier to get a mortgage! Reducing the overall home inventory, both new and existing, would happen a lot quicker. We can already see the light at the end of the tunnel – existing home sales are way up with the West, and perhaps Las Vegas itself, leading the way. Let’s hope now that encouraging news on the mortgage front keeps us moving, and that what’s happening in Vegas, happens in the rest of the country.

 

– Frothing Sherri

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s