Housing Market bleak outlook....

Housing Market outlook…It looks like more trouble ahead for the National Housing Market.
“NAR reported that it’s main indicator of current activity – the pending sales index – fell in May to its lowest level since September 2001. Since May 2006, the index, which reflects contracts that are set to close in the proceeding two months, has dropped 13.5 percent.

At the SEBC regional housing conference, Zandi said the market won’t hit bottom until there is a significant combination of reduced production and price cuts. ….” learn more from Realty Times