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What is Driving the Housing Recovery?

Posted November 13, 2012

Two short- to medium-term factors have initiated the housing recovery, but they may not last through 2013, according to a new analysis by CoreLogic’s chief economist. Negative equity has reduced inventories by locking homeowners in place and preventing them from selling and real estate investors have dramatically increased demand, especially for lower tier properties, which…(Continue Reading)

Rising Home Prices Help Push Consumer Confidence

Posted October 16, 2012

Confidence among U.S. consumers unexpectedly jumped in October to the highest level since before the recession began five years ago, in large part due to rising prices and expectations that they will continue to improve. The Thomson Reuters/University of Michigan preliminary October consumer sentiment index increased to 83.1, the highest level since September 2007, from…(Continue Reading)

Banks Reduce Their Foreclosure and REO Portfolios

Posted September 19, 2012

Real estate investors eager to snap up foreclosed properties encountered fewer opportunities during the second quarter, mostly due to banks controlling the number of Real Estate Owned (REO) properties listed for sale. According to a recent report by real estate analytics firm RealtyTrac, banks are currently holding more than 620,000 properties acquired through the foreclosure…(Continue Reading)

Zillow says home values have hit bottom and are on the rise.

Posted July 30, 2012

–Website Zillow says home values have hit bottom and are on the rise –Slight gain in second quarter marks first annual increase since 2007 –Zillow predicts a 1.1% increase in home values over the next year CHICAGO–National home values have hit bottom and are on the rise, the real-estate website Zillow reported in a news…(Continue Reading)

More Good News from the Housing Market

Posted July 7, 2012

The housing market’s been giving mixed signals, flashes of hope mixed with sudden bad news. There’s no sign yet that a real recovery has taken hold, but some new data are optimistic. Home prices and sales are on the rise. DataQuick says the average sale price for the past 30 days was $189,500, up $7,000…(Continue Reading)