Despite the fact that economists nationwide feel that the housing market is beginning to recover, unfortunately most people are unaware of its recovery because they still gage a recovery based on home prices which are still declining.
The main leading indicator that the housing market is on the mend is an overall increase in home sales, not home prices. According to research firms specializing in home sales studies; existing home sales have increased to 4.26 million in 2011 compared to 4.19 million that were sold in 2010. Also, overall home sales have increased by 13 percent in just the past six months alone.
As a whole we need to change our perspective on what a housing market recover truly is given the circumstances that lead to the worst housing market since the great depression because today's perspective on a housing market recovery is based on home prices rather than properties coming off the market. Furthermore, economic experts feel that home prices will not begin to make a recovery for several more years.