There has been a string of positive news on housing lately, including existing home sales. In addition, Toll Brothers, a publicly traded company, is "enjoying the most sustained demand" in over five years, and is serving as a more physical example that the "housing market is coming back," according to a recent article from Newsweek.
"For years, declining home values have been a massive weight on the economy, but now the death spiral is turning into a virtuous circle," Newsweek wrote. Rising home values are pulling more people from being underwater on their mortgages. This phenomenon is giving way to more home sales, which, by extension, is putting money into the pockets of real-estate agents, mortgage brokers, lawyers and movers-and hopefully building and remodeling contractors, as well.
"Home construction isn't particularly amenable to technology and automation, so when more homes are built, long-unemployed sheetrockers, roofers, and carpenters come off the sidelines," Newsweek wrote. However: "The naysayers are right to note that we're a still long way from the recent peaks."
