Sunshine
by Evan Vanderwey on 18/09/09 at 8:27 pm
So maybe the dark days are truly behind us. The numbers coming from all corners of the housing industry seem to be more than spikes on an otherwise flat chart. They seem to be sustained. Even Bernanke has finally gone so far as to admit that yes, it looks like the recession is over.
Here’s just a sample of the latest:
- Single-housing starts for August are up 7% and it looks like they’ll post the first double-digit annualized gain after 13 straight double-digit declines, that’s quite a swing.
- Market home prices are up nationwide, somewhere between 2.7% and 7.3%, depending on whose numbers you trust (Freddie on the low side, Clear Capital on the high).
- The nearly record low rates last week boosted mortgage apps up by 17%.
- We’re enjoying 6 straight months of pending sales increases. In Lansing, we’ve already closed as many transactions as we did all of last year.
- Consumer confidence ratings are up—and in all categories: current conditions and short-term outlook in both the economy and labor markets.
So the indicators that we’ve been watching so intently, so nervously over the past two years seem to be settling in to a healthy rhythm. And that’s good.
And though we may never be as complacent as we were a few years ago, that’s probably good too. In fact, maybe those were the dark days—when we thought nothing could go wrong…maybe. Either way, I’m ready for some sunshine.
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