Housing rebound:
When to spot one, an article from CNNMoney.com, reports that real estate is a local game and your region could be doing better than the country as a whole. According to the National Association of Realtors, median prices for existing single-family homes in a third of the country's metro areas are actually higher than they were a year ago. NAR president Richard Gaylord said just as cities moved independently on the way up, they're not moving in lockstep on the way down. That's why "it's more important than ever to examine what's happening in your city." One indicator that a turnaround in your market is near is changes in your local job market. The more new jobs created, the greater the demand for homes. Conversely, an increase in unemployment, or a persistently weak labor market, can let you know a recovery may still be far away. Mike Larson, a real estate analyst with Weiss Research said the best signposts to look for are a significant reduction in the supply of homes and a jump in sales.http://money.cnn.com/2008/07/07/real_estate/price_to_rent.moneymag/index.htm?postversion=2008071604