From Realtor Magazine Online, Daily Real Estate News April 30, 2009
The housing market is looking healthier, but U.S. Housing and Urban Development Secretary Shaun Donovan said Wednesday that it is too early to tell if the recovery has taken hold."
We do have some early signs, I think, that the market is stabilizing. Since January, what we've seen is both prices and sales volumes moving up and down around a relatively stable number," Donovan said.
Donovan said he was optimistic that President Obama’s policies are bolstering the market.
"I think in particular when you get below the national level what you see is that in markets like California that were the hardest hit, that is where the signs (of recovery) are the strongest," he said.
[Editor's note: Remarks last week by NAR Chief Economist Lawrence Yun at a press conference on existing-home sales are consistent with Secretary Donovan's analysis. Video highlights of Yun's press conference are available online.]
Source: Reuters News (04/29/2009)
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