Today we have seen another positive sign for the recovery of the housing market. This is indicating that now the housing market is finally starting to recover.
According to the Department of Commerce there has been a rise of 11% in the new home sales nationwide in June to a seasonally adjusted rate of 384,000.
Lower home prices and a fall in mortgage rates are providing fuel to sales.
It is said by experts that there is still a big backlog of homes in the foreclosure pipeline, and it is expected by them that it will remain blocked well into next year.
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