New Home Sales Up 27%

[waterdog101]

the home market is showing a good comeback, new home sales up 27%
now if congress, can show they are more interested in the economy, than looking down the road at another election. everything will start to improve. I sure hope so.

[MrSplitshot]

We just sold our current house...it was on the market just a tad less than 30 days, so I was shocked. Maybe we just got lucky, I don't know, but we showed the house 11 times in that month period. We had to hustle to find a new house, when I figured we would have plenty of time...but there were several on the market and we found what we needed pretty quick.

If I remember correctly, I was talking to our real estate agent and she said that typical "inventory" in Lexington used to be 9 months worth of houses on the market at a given time. She said that during the worst of the recession that it got up to something like 20 months...and now it's back to 12 months.

The neighborhood we're moving from has new construction in the back part and they have fired back up pretty good building houses. There was a development next to where my office is that sat there with 1 home built in it (the model home) for 3 years. They cranked up a couple of months ago and the place is hopping right now with construction and new houses.

At least here, I see signs of life...but the recession didn't hit the Fayette Co market as hard as some others.

I also hope that Congress and the President can work together to actually get some things done without worrying about re-election. It's a sad state when they are willing to let our country go to Hell in a handbasket because of votes, but it is what it is.

[RoadToad]

It's a sad state when they are willing to let our country go to Hell in a handbasket because of votes, but it is what it is.

Yup, and that's exactly what's been happening, on both sides. I really do think there's going to be some measure of cooperation, perhaps compromise, to get us past this "fiscal cliff," but then again they don't have much choice at this point, do they?

[HURRICANEBOB]

I think the housing market would get a big boost if Congress and the President made it a gola to fix Fannie Mae, Ginnie Mae, and Freddie MAC.

I think freeing up funding and getting money moving again would make things a lot easier for buyers, which makes things go faster for sellers.

And I do agree the Fed has to keep its eyes open and hold the fraud at bay in the secondary market that really caused the whole housing thing to slow down.