Good Economic News for the Real Estate Industry

New durable goods orders increased in February of 2009 and new home sales in the U.S. rebounded by 22.2%. This economic data indicates that the economic downturn is easing. The US Department of Commerce said that durable goods orders rose 3.40% (up $165.6 billion) in February of 2009. This rise in durable goods orders represents the largest increase in durable goods orders since December of 2007. So, there you have it. The sky is no longer falling! We have made it past the worst part of the economic cycle. We certainly have a long way to go, but it is not as bad as the media has been reporting.