NAR Chief Economist Lawrence Yun described the decline as a "mild retreat" after a strong gain in July, adding that the August pace was the second-highest in 23 months. Compared to August last year, sales were up 3.4 percent.
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Why we think the recession has seen its last days...
When Newsweek announced to the world on their cover at the end of July That the Recession is Over we took notice! Really if you think about it rates are lower now than in the peak of the housing market 2 years ago, housing inventory is better than in the peak market and there are more incentives to buy (can we hear it for the $8000 tax credit). Now sure we know there will be recovery, but there are so many positive things to focus on today vs 6 months ago you can't help but feel good. We don't have to tell you- now is the perfect time to buy a home!
With the launching of this new blog we will give you proof of our belief that the Recession is Over and to hopefully turn you into a believer too.
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