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Home Resales Likely Rose in June, Recession’s End Could Be in Sight

  • July 20th 2009

by Mark Wellborn

Home Resales Likely Rose in June, Recession’s End Could Be in Sight: Figure 1

In what is either the best economic news in months or just wishful thinking, Bloomberg is reporting that reports this week will likely show an increase in home resales, an indication that the recession may soon be over.

A Bloomberg survey notes that purchases of previously-owned homes climbed to an annual rate of 4.83 million last month, the highest level since October of last year. While these numbers are estimates and the real news will come out in the National Association of Realtors’ report on Thursday, the outlook is a welcome harbinger of good things to come.

From Bloomberg:

“Mounting evidence that housing is stabilizing is bolstering forecasts that government stimulus efforts will gain traction in coming months and lift the economy from the worst slump in five decades.”

This article originally published at https://dc.urbanturf.com/articles/blog/home_resales_likely_rose_in_june_recessions_end_could_be_in_sight/1149.

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