Housing may have hit bottom in February
The chief economist of Mesirow Financial, a $31.4 billion asset financial services firm in Chicago founded in 1937, announced that the housing market probably bottomed out in February and is now on the road to recovery.
“An unexpected jump in new and existing home sales, a fairly sharp increase
in mortgage applications, and a surprise increase in pending home sales
prompted many to declare the bottom in housing in the month of February,”
says Swonk. “Even home prices, which had been falling like a rock, showed
some signs of stabilizing during the month. Moreover, speculators appear to
be re-entering the market, picking up properties on the cheap.”
Posted: 7 April 2009
Source: Florida Association of Realtors
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