News for UK buyers of Orlando property
For the first time in five years, sales of previously occupied homes rose
for the third consecutive month in June, while foreclosure sales and the
glut of homes on the market both declined.
The figures, released Thursday by the National Association of Realtors, and
a string of rosy corporate earnings reports sparked a rally on Wall Street
as the Dow Jones industrials rose above 9,000 for the first time since
January.
Sales also have risen for three straight months in 40 out of 55 major
metropolitan areas tracked by the Associated Press-Re/Max Housing Report,
also released Thursday. Prices rose during that period in about half of
those areas.
Analysts said signs that housing market is finally, gradually turning around
could help spur demand as buyers become less fearful of losing their shirts.
"It's been the abject pessimism about house prices that has placed a pall
over the housing market," said Mark Zandi, chief economist at Moody's
Economy.com. "As that psychology reverses itself, things start to work in
the opposite direction."
Posted: 23 July 2009
Source: Orlando Sentinel
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