1) "It would take 8.8 months to sell all the homes on the market as of June, compared with 10.2 months as of May. That is the lowest sales rate since October 2007." - Washington Post
2) "An index of builder confidence from the National Association of Home Builders (NAHB) rose to 17 this month after languishing in single-digit territory." - CNN
3) Sales of new homes unexpectedly rose 11 percent, which is perhaps the best indication that the housing market has reached its bottom.
And a dark cloud: "Distressed" home sales -- from foreclosure resales and short sales -- accounted for 31 percent of June home purchases. As a result, new home sales are still having a hard time competing with those depressed prices, even as the median price for a new home is down 12.0% from June 2008. The sales ratio of existing home sales to new is closing, but the sharp increase and small correction (drawn by Calculated Risk) helps to trace what happened to our housing market:
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