Real estate website and research powerhouse Trulia keeps track of the housing recovery with its complex barometric tool (left) inspired by the mechanical engineering of great weather-trackers. And the news is good–sort of.
Last year around this time, existing home sales were 10 percent below where they are now. New home construction jumped almost 50 percent last month. A 1 percent dip in the ugly stuff–delinquency, foreclosure–is also a positive. Taking all that into account, Trulia Chief Economist Jed Kolko inched the barometer up to 56 from 54, saying the improvement was “even better than it looked.”
Meanwhile, the Nightly Business Report looks at the market rather differently.
One thing’s for sure: It’s a seller’s market.