My Real Estate Blog

The findings: Despite nervousness about the stock market and employment, 66% of all consumers "believe the economy will hold steady or improve over the next six months." 83% believe their own personal finances will get better or at least hold their own.

Most consumers are looking for a "long and slow return to economic growth," meaning gradual improvements in major sectors of the economy, including home sales and real estate generally.

Does that slow and steady theme sound familiar?  

From May to June, home sales rose by 7.2% in the six big counties comprising southern California - Los Angeles, Riverside, San Diego, Ventura, San Bernadino and Orange. Total sales were the highest since June of 2006.

That's highly significant because the six counties of southern California are sort of the canaries in the mineshaft for the housing market. They were extremely hard hit during the recession, and they have a long way to go to come back - but it's happening.

Meanwhile there are growing indications of similar patterns underway in other major markets around the country -- even noteworthy gains in home values.

Corelogic, the giant real estate data company, released its latest "home price index" last week, and found that prices on a national basis are now 2.9% higher than they were the same time the year before - and that's counting in distressed sales.

Prices were up in 60 of the top 100 real estate markets -- a big change from a year ago, when all 100 were negative.