Low home prices and mortgage rates have combined to push home affordability to record levels nationwide. Home buyers are taking advantage.
The government confirms what the private-sector Case-Shiller Index reported yesterday. Nationwide, average home values slipped in October.
According to the Census Bureau, the number of new homes sold rose 2 percent in November, taking the metric to a 7-month high.
Home resales moved to a 10-month high in November, the latest in a series of strong showings from the housing sector.
According to the U.S. Census Bureau, Single-Family Housing Starts rose to 447,000 units on a seasonally-adjusted, annualized basis in November — a 2 percent increase from October.
In another good sign for the housing market, today’s home builders believe that the housing market has turned a corner. Homebuilder confidence is at a 19-month high.
According to foreclosure-tracker RealtyTrac, November’s foreclosure filings fell 3 percent as compared to October, and 14 percent from November 2010.
After 3 consecutive months of easing, the Pending Home Sales Index jumped 10 percent in October, lending credence to the belief that housing is in recovery.
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