Fed Reserve's Fisher States Housing Market Has `Bottomed Out'


Posted on Jun 29, 2012

“I do think the housing market has bottomed out,” Fisher said to reporters today in Aspen, Colorado. The improvement has been “assisted by these low mortgage rates that we’ve had.”

More Americans than previously forcasted signed to purchase previously owned homes in May, indicating the real estate industry is firming three years after the start of the economic recovery. The index of pending home resales climbed 5.9 percent to 101.1, matching a two-year high reached in March, after a 5.5 percent decline in April.

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