Housing market sentiment hits a 5-year high: a good omen for sales?

Home sales have lagged expectations so far this year, but one indicator suggests the housing market may be set for a rebound.

Housing confidence and sentiment about buying and selling are pointing to a more balanced market and an economic backdrop that supports homeownership, according to the Pulsenomics Housing Confidence Index, out Wednesday.

Pulsenomics is an independent research firm that specializes in real estate data analytics. A few years ago, MarketWatch profiled its founder, Terry Loebs, who has a long background in home price forecasting. The firm polls economists, analysts, and strategists on their expectations for prices in the future.

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