We have been seeing several signs for the last few months that the housing market is stabilizing. While yesterday’s stock market rally might have been a bit premature in cheering the end of the recession and the dawn of economic recovery, the bottom line is that there still is some good news.

The housing market is stabilizing, as seen by a jump in home sales in June. Additionally, the numbers for pending home sales in June is expected to show an increase. The housing market is beginning to move again, and that is a sign that the economy might start recovering. Forbes reports on the numbers that show housing market stability is returning:

For the first time in five years, home resales have risen for three straight months, increasing 3.6 percent in June. Low prices and a first-time homebuyers tax credit of up to $8,000 have spurred sales, which are now around the same level as before last fall’s financial crisis.

Additionally, it is worth noting that some believe that home prices hit bottom prior to May. There are still those that think that some markets will see lower home prices, but — for the most part — there is a great deal of optimism that the bottom of the housing market has already passed.