Real estate slump coming to an end - resales declined 0.4 percent, less than forecast, to an annual rate of 4.89 million from a revised 4.91 million
Peter Oberois
Feb. 25, 2008

The housing market is finally showing signs of life in the middle of gloom and doom.

Analysts had forecast home resales would fall 2.0 percent to an annual rate of 4.7 million. The number of homes for sale at the end of January rose 5.5 percent to 4.2 million. At the reported sales pace, that represents 10.3 months'' supply, compared with 9.7 months in December.

There are very early signs of stabilization in home markets.

Sales of single-family homes increased 0.5 percent to a 4.34 million pace from a 10-year low in December, according to today's report. Sales of condos and co-ops fell 6.5 percent to an annual rate of 550,000.

Real estate slump coming to an end - resales declined 0.4 percent, less than forecast, to an annual rate of 4.89 million from a revised 4.91 million
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