Lately, it seems everyone has an opinion when it comes to economic forecasting - some of it optimistic, but much of it not. I am tired of the doom and gloom being reported.  We need some balance and consumer confidence could use a boost. Why not give it one?

 

Being on the front line, I've heard plenty and seen many positive signs. Here is a selection of recent facts, quotes and insights from respected sources that reflect optimism and hope backed by facts.

 

  • First-time home buyers who qualify for the $8,000 tax credit, but don't have the money for a down payment or closing fees, may now be able to get a loan to help cover those upfront costs / Source: federalhousingtaxcredit.com

  • The National Association of Home Builders housing market index rose two points to 16 - its highest reading since September. "The report reflects a survey of 733 residential developers nationwide, tracking builders' perceptions of market conditions. And the index readings for current sales conditions and expectations for sales over the next six months each increased in May" / Source: cnbc.com, July 2009

  • Very attractive housing affordability factors - particularly the tax credits being offered by states for purchases of newly constructed homes - are helping drive potential buyers back into the market / Source: National Assoc. of Home Builders (NAHB) chief economist David Crowe

  • Builders are responding to what they perceive to be some of the best home buying conditions of a lifetime. You're not likely to get a better deal in terms of mortgage rates than what's available right now. / Source: NAHB chairman Joe Robson, homebuilder from Tulsa, Okla.

  • "The fact that the July housing market index continued to tick up from June's five-point increase provides confirming evidence that the improved confidence level was no fluke. This continued increase indicates that home builders feel we're at or near the bottom of the market and that positive signs lie ahead for builders and potential home buyers, provided that builder access to production credit significantly improves." / Source: NAHB chief economist David Crowe

  • The Federal Housing Administration (FHA) will allow state housing finance agencies and certain non-profits to monetize the tax credit so that borrowers can use the funds toward their down payments for the purchase of homes with FHA-insured mortgages. /  Source: U.S. Department of Housing and Urban Development, July 11, 2009

  • Other housing indicators have recently shown a sharp reduction in the pace of the market's decline, raising optimism that a bottom is not too far away. "The good news is that we likely have the worst of the housing crisis behind us." /  Source: Deutsche Bank in New York's Torsten Slok, senior economist,  news.moneycentral.msn.com

 

  • "The median sales price in July was $175,200, a plunge of 12.4 percent from a year ago, but higher than February's median price of $168,200. While median sales prices typically rise slightly in early spring, the 4 percent monthly increase was larger than expected." / Source: cnsnews.com

  • "Sales, while plummeting compared with last year in most of the country, were up by 23 percent in the West from a year ago, without adjusting for seasonal factors. 'For distressed Western cities, this a sharp recovery.'" / Source: National Association of Realtors' (NAR's) Lawrence Yun, chief economist; CBS/Associated Press

  • The number of unsold homes on the market at the end of March fell 1.6 percent from a month earlier to 3.7 million. /  Source: NAR. coldwellbanker.com