Sales of previously owned homes rose 7.8% from July 2012 to August.  That translates to a seasonally adjusted annual rate of 4.82 million, which is improved, but still below the 5.5 million that most experts say constitute a “healthy market.”

These numbers, from a Time.com Business article, are the highest since May 2010.

The very big news was on the new construction front.  The Census Bureau reported that builders started on new homes at an annual rate of 750,000, which constitutes a 29.1% increase from August 2011.

These numbers are improving, but to put them in perspective, in May 2005, housing starts hit 2,000,000 per year.

It was also recently announced by the National Association of Home Builders that confidence among its membership was at its highest level since June 2006.

But when looked at as a whole, new and previously owned sales are up; builder confidence up; if this can be sustained for a few months a real recovery might build.  Home prices are inching up nationwide which is also cause for celebration when it comes to building a recovery.

Whatever the specific reasons, it does seem that the historically low interest rates are enticing people into the market.  And its for certain that these rates will continue for the very foreseeable future.