In an article released by msnbc on Wednesday Oct 21, it reported that the housing and manufacturing are jump starting the economy into growth and recovery.

“Improvements in housing and manufacturing are driving the early stages of the economic recovery, according to a Federal Reserve survey released Wednesday.

The Fed’s latest snapshot of business conditions nationwide found “many sectors” of the economy either stabilized or logged modest improvements over the last six weeks. The pickups, though, often were from “depressed” levels of activity.

Still, the new report adds to evidence that a recovery has started from the worst recession since the 1930s.

Many analysts believe the economy started to grow again in the third quarter at a pace of at least 3 percent, and is continuing to expand now. The government releases third-quarter results next week. If analysts are right, that would mark a turning point for the economy, which has contracted for a record four straight quarters.

The central bank’s survey findings will figure into discussions when Fed Chairman Ben Bernanke and his colleagues meet Nov. 3-4. The Fed is expected to keep interest rates at record low at that time and probably into next year to help foster the recovery.”

I can say from personal experience that I am seeing an improving housing market. In the last few months I have seen an increase in the number of homes that have multiple offers, and buyers are getting in ti bidding wars. This activity is not across the board in all price ranges, but it is happening more frequently.

    Last year in June there were nationally 4.8 million homes for sale, this year in June the number shrank to 3.8 million. Thanks to these encouraging numbers and others- like the demand for durable goods rising for the past three months and the stock market making a nice comeback- have lead forecasters to predict higher home sales and stabilizing prices in the year to come.

    Here in Utah we are seeing the same upward trend according to statistics on homes sales. In places like Daybreak and Saratoga Springs (near Camp Williams), homes sales have risen dramatically over last year. In some areas the number of home sales have almost doubled.

    With home sales heading in a positive direction, shrinking inventory, and prices stabilizing we are in a good position to see housing lead the economy into growth and for job numbers to start looking up as well.