| The housing market got some short-term bad news today, with the Commerce Department reporting that home sales in December fell 7.3% from the previous month. But housing analysts who are looking past that headline see a lot of reason for optimism in some more positive long-range trends.
The market is 52% as strong as it was prior to the 2008 crash, according to a housing index created by online real estate marketplace Trulia. For its monthly Housing Barometer, Trulia crunches three indicators: U.S. Census construction data, National Realtors Association existing sales, and delinquency and foreclosure rates from mortgage-data firm Lender Processing Services. While 52% would be a lousy score on an exam, it’s the highest score the real-estate market has seen since the real-estate boom...............................................Full Article: Source
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