Commentary: Is it possible that we have turned the corner on the nation’s real estate crisis? Some economic indicators seem to be pointing in that direction.
The National Association of Realtors recently reported existing-home sales rose 4.2 percent in May 2013 to an annual pace of 5.18 million; this is the largest increase in sales since November 2009-a very positive sign that suggests we are on the right track.In as much as there are tangible measurements, which have evolved into positive forecast discussions, we are not out of the woods just yet. The foreclosure process remains in the spotlight. It is evident that REO sales do not claim as large a role in the marketplace as in recent years. REO sales will remain a viable market for real estate sales in the near future.
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