The housing business
Posted at 1:43 PM on October 27, 2008
by Bob Collins
Filed under: Economy
What's this? Good news in the housing industry?
With home prices at their lowest in four years, the Commerce Department reported today that home sales rose 2.7 percent in September. That's compared to the August rate.
In the Midwest, however, the news isn't as cheery. Sales dropped 5.8% in September, compared to August, and are down nearly 38% from a year ago.
Local Realtor and blogger Teresa Boardman has a post up today, however, that suggests things may not be as grim as we've come to believe.