Taking the Pulse Beat on the Housing Market – by Ruth Shari December 30, 2011

For the first time in longer than I can remember, there was good news today.  Pending home sales continued to gain in November and reached their highest level in 19 months, according to the National Association of Realtors (NAR). 

It’s undeniable that a number of factors greatly impacted the housing industry during 2011:  government, the mortgage industry and the forces of Nature (floods, freezes, fires, etc.).  

Initial unemployment claims in the United States fell to a three year low in November, the lowest level since June, 2008.  This is terrific news.  But, don’t rejoice yet.   It wasn’t until the third week of December that claims again rose, possibly in response to holiday temporary workers needing to re-enter the job market.

Experts tend to agree that the housing industry’s positive and negative factors are equally weighty at present.  Others cite the challenges of grappling with the onset of more foreclosures in 2012 as well as reduced home values after a four- year downward spiral in median home prices.