We may be out of recession!
According to Good Morning America this morning, May 12, 2009, we are out of recession and housing prices are stabilizing. As of April 2009, the leading indicators are pointing upward and all signs are we are out of a recession.
Read below for more info from this morning:
Recession Is Over According to Financial Experts
Improving Housing Market, Leading Economic Indicators Makes Experts Optimistic
ZipReality said that as of right now, it would take 8½ months to sell all the homes currently on the market, up from a high of 11 months in October 2007. Most economists say that six months is normal.
In cities like Tampa, Fla., Houston, Phoenix and Los Angeles, housing inventories have dropped dramatically.
"Buyers are a lot more engaged," Yun said. "There's an excitement and a passion that hasn't been seen in the last 18 months right now."
What's motivating buyers is low interest rates on mortgages, lower home prices and a new $8,000 tax credit for first-time buyers.
Asked to compare the length of the housing crisis to a baseball game, Lashinsky said that the country is now in the seventh or eighth inning.
"We've been through all the excitement of the upfront and we're starting to come up to the big finish," he said. "And hopefully, we get through the finish and we don't go into extra innings."
TO TAKE ADVANTAGE OF THIS MARKET BEFORE IT IS TOO LATE OR TO RECEIVE A FREE MONTHLY MARKET SNAPSHOT OF THE ACTIVITY (ACTIVE, PEND AND SOLD) AROUND YOUR HOME, PLEASE CONTACT US AT WWW.GUTTINGGROUP.COM OR CALL 317 846-4888. DEREK GUTTING, KELLER WILLIAMS REALTY
