Housing Bubble Conflicting Data Released Housing Bubble Conflicting Data Released

The housing market threw the world another curve on Thursday. After five straight months of declining sales of existing homes, a sixth dreary month was pretty generally expected. Instead the National Association of Realtors announced that February sales of previously-owned homes had jumped 5.2 percent from similar sales in January. This was the largest monthly increase in two years.

NAR itself said that the encouraging report was a sign that the market was "stabilizing" and should "level out" in the months ahead.

While that's NAR's position as head cheerleader, it's apparent the the 5 months of declining prices and lower interest rates had an impact on declining sales and finally some people bought.

Read the Report at Mortgage News Daily

california mortgages california