People are habituated to see bad economy, decreased profits, increased losses, plummeted indexes, increased unemployment rates, etc, since past few months. I think this news can be a little odd as well as relief amid this stuff you see in news everyday.
The US housing market has seen a recent increase in one of its positive segments, in midst of its woeful conditions. New home sales saw a surprising increase in the month of February. Yes, the year is also 2009 and not 2008 or 2007.
According to statistics, new home sales jumped to 337,000 in February compared to the Wall Street’s estimation of 300,000.
There is also an increase in existing-home sales by 5.1 percent in February.
The pace was similar with durable goods with an increase of 3.4 percent. The prediction of economists was a 2 percent decline.
So, the indexes have started performancing more better than economists expected. Is it the sign for a fast recovery of our economy? Well, we have to see.