A spate of good news from the housing industry this week.
First, existing homes sales rose for the third straight month in June. Read here for more.
Then, the Standard and Poor’s Case-Shiller Index shows that the fall of home prices in the 20 largest real estate markets has begun to slow. 13 of the 20 cities on the index reported price increases (including Cleveland, Ohio).
Click here for more on that story.
While I would temper my enthusiasm for quick fixes to the current crisis, the economic indicators are beginning to show promise. However, until unemployment numbers return to the 5% range, we are still in a contraction phase.