It is over a decade since the housing bust began, nearly seven years since the recession ended, and the U.S. housing market isn’t close to what historically would be considered normal. Last year, a combined 5.1 million new and used homes were sold in the U.S—not quite as many as in 1998, when the working-age population was one-fifth lower than it is now. While a full-fledged recovery for housing is still a while away, after a long time of near dormancy, it looks like it is starting to move. Here are details from the Wall Street Journal.
Last month (April 2016) there were 73 Glendale home sales while last year (April 2015) there were just 50 and the absorption rate was lower – 1.9% (months of inventory).