It's Beginning to Feel a Lot Like.......

September 24, 2012
It's beginning to feel a lot like....The song continues with "Christmas", but I am thinking to finish the phrase with " the housing market is turning around".
First, the doom and gloom in the media headlines has been replaced with more positive data.
Second, On the stock market, home builders stock has risen off the lows of the past several years and the activity in these stocks has increased.
Third, the debut of  the real estate web company "Trulia" on the stock exchange experienced both volume and price increase over the initial offering price.
The final sign that I am looking for is the breaking of ground for new home construction. Our Southern California region has been hard hit with almost zero new homes being built in the past four years. Builders still have entitlements for homes that they never built. When we see the home builders pull permits and start advertising we can believe that the market has turned a corner.
Prices may not yet be where builders feel comfortable investing in new construction, but we can be hopeful that they will be able to begin the process. I look forward to some new homes being built for the 2012 market.