In our on again, off again look at the housing market we always are looking for signs that the market is coming out of the doldrums and finally showing some signs of life. Last week there was a bit of good news from one of the housing industries biggest players and maybe it is wishful thinking but we hope that this might be the start of a string of good news in the housing industry and things just may start to look up.

Last week the nation’s number-two Homebuilder PulteGroup posted a profit of $76.3 million dollars which was the first profit for the homebuilder in 14 quarters. Part of the reason for the profit is the federal Home Buyer tax credit though the Pulte has worked hard to cut overhead in the past several years and the company is hopeful that these efforts are starting to show results.

In another bit of good news, real estate website Zillow.com said on Monday that a smaller percentage of U.S. homeowners were saddled with “underwater mortgages” in the second quarter vs. the first quarter That is the good news, however, the bad news is that much of that improvement is due to more homeowners entering the foreclosure process thereby removing some of these underwater homeowners from that “stat sheet”.

We agree the news could be better but hopefully some of this will translate in to more good news from other builders and by the end of the year or the beginning of the next, the housing market will begin to show some signs of life.

This entry was posted on Wednesday, August 11th, 2010 at 5:00 am and is filed under In The News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.