Something positive!
The famously successful Chairman of Berkshire Hathaway made his observation a month ago in his annual letter to shareholders. The Oracle of Omaha is certainly aware of the state of the housing market and added: “A housing recovery will probably begin within a year or so.” These encouraging words play nicely against last week’s news that Existing Home Sales dipped 9% in February, to just under 5 million annually. But this follows three months of substantial increases in existing home sales and experts still expect us to get back to the long-term trend of 5.5 million units annually, despite monthly fluctuations.