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life in rural nebraska

Home sales helping to fuel economic stability?

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The Lincoln Journal Star has the low-down on Nebraska’s turn-around in home sales: we’re among the best in the nation.  From the article:

The National Association of Realtors reported Wednesday that Nebraska was one of five states where sales of existing homes increased more than 20 percent from the first quarter to the second quarter of 2009.

That ranked Nebraska fifth for quarter-to-quarter gain and seventh for year-over-year gain.

monopoly-houseBesides the relative stability the Nebraska economy experienced through the recession, evidence is emerging that Nebraska felt little of the national housing slump, let alone the wholesale housing collapse seen in California, Nevada, Arizona and Florida.  This new housing trend is yet another indicator that the recession is slowing (possibly stopped) at least in the Midwest.

One item to keep of note – we blogged back in April that Nebraska could be on of the first states to emerge from the recession.  We also provided an interesting bit of information that the federal stimulus would have a greater impact on the Nebraska economy than others, even though we received significantly less that other states.  Could it be that the $8000 in first time homebuyer tax credits is finally working its way into the Nebraska housing sector?  Whatever the cause, I can vouch for this locally – we’ve seen a pile of homes come off the market with nice “SOLD” signs in the front yard.

From many of our other economic indicators – unemployment, retail sales, etc., it certainly looks like a start of a turn-around in the Cornhusker State.


Written by Caleb

August 12, 2009 at 6:51 pm

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