Housing Market Showing Signs of Life

We are finally hearing some consistently good news in the housing market.  According to a recent report, new home sales rose by 11% in June, much more than expected.  At the same time, inventory of new homes on the market dropped to 8.8 month supply, or 281,000 units, which is below “normal” level of 300,000.  Some economists think that the housing sector will stop being a drag on the overall economy and will actually add to GDP as soon as in the end of this year.

For more information, take a look at this and this article.