From Yahoo Finance and video after the jump.
And data seems to support this analysis, despite a slowdown in sales momentum at the end of the year. Existing home sales in December were up 12.8% from the same time in 2011, with the total number of sales in 2012 rising to the highest level in five years, according to the National Association of Realtors. Meanwhile, the annual price for existing homes also jumped to the highest level since 2005, with the median price of a home up 11.5% in December from the same period in 2011.
But David Stockman, former director of the Office of Management and Budget in the Reagan Administration sees little to get excited about.
I don't have the same sanguine opinion (I actually think the market has seen the lows but it will take years and years before we return to some form of normalcy) as Mr. Stockman, but he does point out the risks in the housing recovery.
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