January 11, 2012
- According to NAR, Pending sales rose 1.7% October to November 2012 and 9.8% over the same period last year. This is the highest level since April 2010 when the federal tax credit was expiring. In the Northeast, pending sales rose 5.2% October to November, and 15.2% from the previous year.
- CoreLogic says that home prices are on track to post their first yearly gain since 2006. Home sellers are facing less competition from foreclosures, which some credit as accounting for the rise in home prices in many markets. Foreclosure often drags home prices down. But tighter inventory will likely be the main driver of home prices this year, according to economists.
- NAHB released the results of a recent survey that showed the average buyer expects to be in their home 13 years.
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