Daily Economic Indicator: Home sales pick up, but long-term outlook is dim

10/26/2010 | Wall Street Journal, The

In September, home sales increased, but analysts and economists say the long-term outlook for the housing market has worsened. Some economists are predicting the market will bottom out in late 2011 or early 2012 rather than this year as some had previously expected. "In most markets, the tide seems to be going back out," said Stan Humphries, chief economist at Zillow.com. "The momentum is easing."

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