(Image source: The Sacramento Bee)
BY CHRISTINA HARTMAN
ANCHOR ANA COMPAIN-ROMERO
New numbers suggest there could be hope for homes.
CNBC: “The housing market showed some signs of life at the end of last year.”
Bloomberg: “More evidence the U.S. real estate market may be stabilizing.”
Home sales rose 5 percent in December over the previous month -- marking the third month in a row of growth. Leading analysts to ask -- is this is an early sign of recovery? Not necessarily, suggests Fox News’ Megyn Kelly.
“But sales are still depressed and ended 2011 well below healthy economic levels.”
Not only that, but T.Rowe Price Investment’s chief economist tells Fox Business -- activity levels are still low.
“...a lot of these are distressed sales, and you can say just as easily this is just selective buyers and selected buyers in a tighter credit environment, picking out good values.”
Still -- inventory reached its lowest level since March 2005. The LA Times’ Alejandro Lazo notes it now...
“...represents a supply of six months and a little less than a week. Economists consider about six months of supply to be a stable market.”
According to the Atlanta Journal-Constitution, foreclosures and short sales made up 32 percent of December’s sales.
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