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 June 08, 2008

National Housing Market Showing Improvement
It is probably too soon to declare victory against the sagging housing market, but the national housing news suggests that we may be close. The housing market throughout the country is showing signs of improvement, with new home sales showing an increase for the first time since 2007. In several markets, home inventories are declining, while home prices continue to stabalize.
Many experts also suggest that we should expect an interest rate hike by the end of the year. With concerns over inflation and ridiculous prices on oil, people will spend less and these economic concerns will probably influence the decision for increasing interest rates as well.

Not only are the national numbers showing some improvement in new home sales, but the median price jumped up for the first time since Sept. '06. In addition, the numbers on inventory were at its lowest levels in three years.