Most of the Indicators Look Good

We are starting to see more signs of a market turnaround from a variety of sources.
Home sales increased 20.1 percent in June in California compared with the same period a year ago, according to a C.A.R. report released Monday.
...and the U.S. housing market continues to show signs of stabilization with a drop in the number of Multiple Listing Service-listed homes for the twelfth consecutive month. The number of single family homes and condos listed for sale according to MLS data decreased in June 2009 from May by 2.1%, bringing the total number of active listings in 28 major U.S. markets to 696,858.
Also, the rate of home price declines improved for fourth consecutive month although still in negative territory. According to a report released yesterday by Standard & Poors, the 10-City and 20-City Composites declined 16.8 percent and 17.1 percent, respectively, in May compared with the same month last year, down from 18 percent and 18.1 percent, respectively, in April. After 16 consecutive months of record annual declines, beginning in October 2007 and ending in January 2009, the indices have now shown four consecutive months of improvement in annual returns, according to the report.
Good news all around for our market.