Digging deep into the disappointing recent numbers for existing home sales, there are a lot of bright spots one can take some confidence in. First, mortgage rates have been dropping. In fact, mortgages are at historically low levels right now. Moreover, the U.S. government has been quite active in trying to get first-time homebuyers to pull the trigger and buy. The overall U.S. employment figures have been improving, despite the fact that jobless claims have been hovering over the 300,000 psychological threshold during the past few weeks. If you put all these factors together, it is very tempting to conclude that the U.S. housing market will improve drastically in 2015.
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