Things are Turning Around
Southern California: Home sales jump 13.8% in July. The year over year increase, is the first since 2005.
Florida: Single family existing home sales rose in Florida for the first time in more than two years. While only six more homes sold in July 2008 than in July 2007, it could indicate a stabilization in Florida’s housing sector.
Phoenix: A 17% boost in home-resale transactions compared with the previous July is an encouraging trend.
“The biggest declines, they’re all behind us now,” says Nigel Gault, chief domestic economist at Global Insight, a research firm.
