From Carpe Diem:
... We can see all of the essential elements of a housing recovery in markets like Houston and Austin: Rising home sales on a year-over-year basis for more than a year, rising sales volume, increasing median and average home prices, faster marketing time, multiple offers, and falling inventory.
In other words, that's what a housing recovery looks like, and we're seeing signs of that kind of housing recovery in metro areas all over the country.
Note that many of the metro areas and states reported here – Houston, San Antonio, Austin, Wisconsin (including Milwaukee), and Maine are not included in the Case-Shiller Home Price Index, which many look to exclusively for signs of a housing rebound reflected narrowly in only one metric – price. A more comprehensive view of housing market activity looks to...
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Despite the correction in homebuilders, this chart says the housing recovery is going strong