Many economists seem to think so.
Although sales of new single-family home fell 0.3% in August to an annual rate of 373,000 from the previous month, economists are pretty confidence that improvements in the housing market will be more sustainable this time around.
“I think they (August numbers) were pretty good,” CoreLogic chief economist Mark Fleming, finance.yahoo.com reported. “No change from July is a relatively good number and you know we are slowly growing out of the very low troughs of a year or so ago.”
Although the August figures are down slightly from the previous month, “we expect sales, new and existing, to slow down as we head into the off-season at this time of the year,” adds Fleming.
Compared to one year ago, new home sales are up nearly 30 percent from one year ago.
U.S. Home prices continue to rise, increasing 1.6% in July and 2.3% the previous month, according to the latest S&P Case-Shiller data released.
