The Fed just completed a regular meeting of their Open Market Committee. The announcement just made is they are holding steady on our low interest rates, Zero to one Quarter percent, for an extended period of time. The committee announcement went on to say our economy is improving, employment and housing is getting better but we are still weak. Home construction is on the rise, they noted, but we remain at depress levels.

My concern here is we are really setting the stage for a huge price jump in our industry – one perhaps even larger than we experienced before 2005. We are already seeing this happen now.

Please let me know what questions or concerns you have as well.

Further evidence of an improving US economy was just released. The Conference Board Consumer Confidence Index was just released – BIG JUMP!!! The consumer Confidence Index rose to a reading of 57.9 in April from a reading of 52.3 in March.

As Consumer Confidence rises, people are more willing to go out an buy things, like meals, do home repairs, and buy cars and homes!!

Did you also catch the news that General Motors has repayed the loan as well to the Government from TARP? They did this way ahead of schedule. Car sales have returned as well.

First – CONGRATULATIONS to everyone – 8 ratified transactions YESTERDAY alone! I am seeing activity really, REALLY UP!!!

The monthly S&P Case Shiller Report was released a few minutes ago. For the first time since December 2006, we have home price INCREASE reported for both the 10 city and the 20 city index!!

This report is for the real estate transactions closing in FEBRUARY. This would be the home prices for properties put under contract in December to January. You know that we have seen a HUGE improvement in our market since then. And remember the February snows?!?!?!?

For the Washington DC area, home prices year over year for February was UP 5%!!!

Just wait and see what this report will reveal in the coming few months. Its going to be HUGE!

Please let me know if you have any questions or comments.

Sales figures for new homes was just released by the Commerce Department, and it was a bigger jump than expected. UP 27% in March!!! The median new home sales price is now $214,000, this is up 4% over this time last year

Great news – but you all already are feeling this movement. Hopefully this news will be on the evening news tonight.