For the past 5 years, we have braced ourselves for more depressing news about the housing industry. But the news is finally starting to change for the good. There are several things that lend credibility to that statement.
*foreclosure actiity is down 10% compared to just a year ago, in January 2011, according to the U.S. foreclosure Market Report.
*there has been a rise in home sales in each month through December 2011
•Home builder confidence in the market for new single family homes increased for the fifth consecutive month in February, rising 4 points from 25 to 29 as measured by the Houseing Market Index.
The Houseing Market Index is an index of over 300 home builders, and is used, in conjunction with the latest "housing starts" to forecast the demand for new homes. In three separate surveys, builders are asked about current single family sales; projected single family sales, and foot traffic of prospective buyers. These are compiled into a weighted survey result. In February, improvement was reported in all three areas.
