Editorial

Housing upswing

Economists warned several years ago that an economic recovery would come with ebbs and flows; the arrow would not always ascend in a positive direction after the crash in 2008.

Those forecasts have held true, particularly with unemployment. It's two steps forward and one back.

But one area that is showing a strong rebound, at least locally, is in the housing sector.

Housing sales, the value of homes and the frequency of new home building all are showing positive signs.

Data provided by local real estate agents show the number of homes sold this year is 12.7 percent higher than the same period last year, and up 27.5 percent from 2011. The average sale price of a house has risen 3.1 percent; and the combination of more units sold and a higher average sales price netted a 16.2 percent increase in overall sales volume.

These are all good signs. The housing sector sparks economic growth in many areas. Here's hoping that despite government uncertainty and turmoil, the housing trend continues and that the unemployment rate soon follows suit.

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