October housing data points to market on the mend

November 24, 2014

Analysis of October housing data seems to indicate that the housing market has fully entered recovery mode, according to Realtor.com Chief Economist Jonathan Smoke.

Smoke notes that multiple indicators are pointing in the right direction, including the second-highest level of single-family housing starts in more than six years; the first year-over-year increase in total home sales in 11 months; a significant decline in distressed sales; and low inventory driving demand.

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