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October 18th, 2012
09:43 AM ET
Housing Wire Executive Editor Jacob Gaffney and CNN's Christine Romans explain the surge in the housing market
A major bump in the housing market could be a sign that the United States is in full-on recovery. September marked the third straight month improvement in housing with a 15% surge from the previous month to an annual rate of 872,000. Housing Wire Executive Editor Jacob Gaffney breaks down those new numbers on “Starting Point”.
“We are absolutely in a housing recovery,” Gaffney says. “That is a 45% improvement yearly on housing permits. So, the trend of housing starts, new homes built, is going to continue.” Still, Gaffney says, these numbers are lower than in 2006. Gaffney affirms Romans’ assessment that “we would have to double or triple housing starts from here to be healthy.”
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I wrote about this in Febuary, 2012, the market had already started to show sings of a recovery. A real estate agent knows before the press does. http://www.ehomes.com/blog/where-bottom-home-prices-ladera-ranch/
We know because we have pulse on the market, calls from buyes, number of offers on homes, lower inventory. These are all signs that we see that know before that stats are published for the public.