Four Factors to Watch in Housing’s Rebound
The key lesson we learned is that housing prices can fall. No one seemed to think that leading up the bubble burst, says Newport. That was the reason for the whole mess, and now we know better. Distressed Sales Smith from the NAR says during the height of the crisis, distressed sales, which include foreclosures and short sales, made up 49% of the market. Now, that number is closer to 12%. Last week, RealtyTrac reported foreclosure filings fell 34% in August as first-time defaults dropped to the lowest level in almost eight years, thanks to rising home prices.
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Must enter an email address. You must enter the verification code below to send. Invalid entry: Please type the verification code again. September 16, 2013, 4:05 a.m. ET UK’s Clegg: UK Needs To Be Vigilant Over The Housing Market Text By Ilona Billington LONDON–The U.K.’s deputy Prime Minister Nick Clegg Monday waded into the growing debate on the dangers of a fresh house price bubble and said that more homes need to built to address the current imbalance in the housing market.
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UK’s Clegg: UK Needs To Be Vigilant Over The Housing Market
Buyers are also being pickier today because theyre looking for a home that they can live in for a long time, said Jim Klinge, a real-estate agent in go to website Carlsbad, Calif. Buyers want the right house, he said. Theyll pay more for it, and theyll pay a higher rate. But if its not available, theyll wait. Data tracked by John Burns Real Estate Consulting shows that in the vast majority of the nations 20 top markets, demand exceeds supply. In Phoenix, new-home sales are being hindered by a lack of supply, said Mike Orr, a housing analyst at Arizona State University in Tempe, Ariz. Theres not any new homes in the places where people want to live, he said.
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