February existing home sales drop 0.6 percent

In this article, it explains how the housing market continues to decrease in many areas. This is said to have an effect on the so called "recovering market". Mostly, this can be accounted for by the still high unemployment rate. Many people who do not have a steady income are very reluctant to buy a house right now. Unfortunately this does not help housing markets.

Although, in other parts of the country, housing markets are beginning to increase. Areas such as the Midwest, and the northeast. In the south, they have experienced a decrease of about 1 percent. Even with an increase in some parts of the country, by no means does it mean that we are close to a recovery in the housing market. In the last month, the inventory of unsold homes rose from 312,000 to 3.59 million which is an unusual amount that lead to a push of unsold homes to 8.6 months. This continues to be an issue in our economy. Once we start to see an increase in the housing markets nation wide, we can start to feel better about a recovering economy.