Great News from CNN Money report. I know we've seen the signs around the Myrtle Beach area, with more buyers in the market and prices ticking up slowly in certain areas. Condo sales are up almost 25% from this time last year! Here is the article from CNNMoney...
Economist say Housing Recovery is Finally Here
NEW YORK (CNNMoney) -- It's been a long time coming, but economists surveyed by CNNMoney believe the nation's housing market has finally turned the corner.
Of the 14 economists who answered questions about home prices in the survey, nine believe that prices have already turned higher or will make that turn later this year. Only three months ago, half of the economists surveyed by CNNMoney believed a turnaround in prices would not take place until 2013 or later.
Mortgage rates are also likely to remain near record lows thanks to the Federal Reserve's purchase of $40 billion in mortgages a month for the foreseeable future.
"We're seeing the signs of a pulse in a sector that has been flat-lined for a number of years," said Sean Snaith, economics professor at the University of Central Florida.