February home sales show signs of recovery

While Many Real Estate experts are saying that what is forming is a new housing bubble, others are saying that the increased home sales for February in the U.S. is a positive sign that the market will be surging again. Apparently, or so says the National Association of Realtors, home sales in February 2010 rose 8.2 percent. Analysts had expected sales to continue to flat line, as credit for too many today is limited to the payday loan. This was in spite of the tax credit for home buyers. Most of the sales increases in fall 2009 were from the tax credit, but the New York Times says that it has been a lesser force this spring.

Will sales in February homes equal a second surge?

Lawrence Yun says it is possible, who is the National Association of Realtors Chief Economist. A surge in the Real Estate market a second time would help a lot with stabilizing home prices, placing the market on the same track as U.S. employment, where the sector has been shown to be getting better, even if it still has a long distance to go before getting the break-even point. The Institute for Supply Management also shows non-manufacturing jobs and exports rising. This doesn’t account for the perpetually “unemployed,” who have a hard time feeding themselves and rely every so often on payday loans.

February home sales: Good news for dark times

Let us be clear about all of this: the U.S. Real Estate market is still in deep although there has been an increase in February home sales. Foreclosures are on the rise still. Yet the February home sales report is a glimmer of hope. Many areas in the country that experience poor weather may have showed an uptick; according to the Times, the Northeast and South increases nine percent in sales, the ones that were hit hard by snow.

Sources

New York Times