Two stories from yesterday's edition of The Housing Wire:
Happy story here:
Positive monthly housing stats point to recovery: RE/MAX
Home sales are trending positively on a monthly basis, according to the RE/MAX May housing report, a sign the market bottomed out at the beginning of 2011.
Sad story here:
RealtyTrac's Sharga sees no housing recovery before 2015
Speaking at HousingWire's 2011 REO Expo in Fort Worth, Texas, Sharga said the housing market is years away from full recovery, and he expects 2012 and 2013 to look similar to this year as the industry grapples with levels of distressed properties never seen before.
"It's taking so long to get out of this mess because it took us so long to get into this mess," Sharga said. "We were at the tail end of an unusually long boom time in housing. Unfortunately, we're anything but recovered, we're actually still searching for the bottom."