Tuesday, March 24, 2009

Dow and Home Sales Up

Good News for a change. On Monday Mar 23, the Dow-Jones Industrial Average shot up nearly 500 points. Part of the reason was the news released by the National Board of Realtors that home sales had increased. There currently is an over inventory of existing homes. When this inventory decreases, new housing starts will begin to move forward.

For those of us in new housing construction, this is a glimmer of hope that perhaps the bottom has been reached and there will be upward movement on demand for new housing. Of course some areas will recover faster than others, but the general feeling is that there is optimism for the last half of 2009, and more in 2010.

In a day of continual bad news.....let's celebrate this good news story.