A bit of good news just in from The Wall Street Journal:

Existing-home sales rose 5.1% in February, climbing above expectations, but prices plunged again. Home resales climbed to a 4.72 million annual rate, from January’s unrevised 4.49 million annual pace, the National Association of Realtors said.

Foreclosures and short sales reflect about 45% of total existing-home sales. With so many distressed sales, the median price for an existing homes fell. At $165,400 in February, the median price was down 15.5% from $195,800 in February 2008. The median price in January this year was $164,800.

Let’s hope this starts to translate to an increase in timber frame starts or at least a pick-up in leads. Is anyone seeing a correlation between the recent market increase and the amount of calls/leads? We’d love to hear from you.

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This entry was posted by pam on Monday, March 23rd, 2009 at 7:49 am and is filed under Industry News. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.