Housing in Recovery...

What's really going on in the Real Estate sector according to The Realty Times...

Yes, stocks are down and still very volatile, economic news is not any better but look what's happening slowly in the housing sector....

According to the Mortgage Bankers Association people looking to buy houses with FHA loans were up by 15.3 percent, while applications from purchasers seeking conventional mortgages rose by six and a half percent last week. There are some great opportunities out there and buyer's are recognizing that fact and acting..Pending home sales were higher than year-earlier levels for the second straight month -- 1.6 percent higher than September 2007 . Western States are now reporting pending sales at 39.7 percent higher than there were in September 2007.

Chief economist Lawrence Yun, spoke at the National Association of Realtors convention in Orlando recently and warned not to expect a housing recovery overnight, certainly not with unemployment on the rise. But he projected a "slow, steady, multi-year upward trend, with 5.02 million total sales this year, 5.3 million for 2009, and 5.6 million for 2010."

So, if you're trying to predict the bottom to jump into the market...Hmmm. The bottom becomes apparent when the sales begin to rise and and it appears that is happening...(according to National statistics.)

Want to find out what's happening in your neighborhood? Visit www.DebraCahill.com and see "What's My Market Value, Really?"