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The long-awaited housing recovery is beginning to blossom, according to industry experts taking a look at recent existing-home sales.
While admitting home sales "are still very low," Paul Dales, chief economist at Capital Economics, says "it is clear that housing recovery is now well underway."
The evidence: home sales have been on the rise for the past three months, posting a 5 percent increase in December.
Lawrence Yun, chief economist for the National Association of Realtors (NAR), concurs with Dales' assessment, saying "The pattern of home sales in recent months demonstrates a market in recovery."
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