For current home sellers and buyers, this post only offers good news! A recent article in the Chicago Tribune states that stocks surged ahead from a surprising increase in pending home sales for the second month in a row, and a rise in home construction spending, which had experienced decreases for five straight months.
According to data from the National Association of Realtors, sales for previously occupied homes rose 3.2 percent in one month. Likewise, data from the Commerce Department said construction spending rose 0.3 percent, which was expected to continue to drop. These are both positive signs that the real estate market is making a turnaround for success that will hopefully continues in the coming months!
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