Nowhere to go but up

Nowhere to go but up? Housing begins slow rebound, an article from USAToday.com, reports that data released over the past two weeks indicates that the housing market has stabilized and many areas are recovering. In June, home resales were up 9% from January, on a seasonally adjusted basis. During that same period, new homes sales climbed 17% and construction has risen almost 20%. In May, home prices edged up - the first monthly increase since June 2006. "The freefall is over," says Dean Baker of the Center for Economic and Policy Research. However, Baker, like many economists, expects the housing market will "be bouncing around the bottom" for the second half of the year.http://www.usatoday.com/money/economy/housing/2009-08-01-housingmarket_N.htm