With all the bad news about short sales, foreclosures and the economny in general, here's a spot of good news. It seems that housing starts have bottomed out.
Single-family housing starts ― a component analysts at IHS Global Insight call “arguably the most informative statistic about the current state of the housing market” ― rose a whopping 14.4% in June to an annual pace of 470,000 units, marking the fourth consecutive increase. In light of the current state of affairs, "the most informative statistic" available to economists suggests that the foreclosure and short sale market has us so transfixed that we're missing some very important signs. To see more about what industry experts have to say click on this link.
