Home Building & Buying is Still a Bear

According to some reports the housing market is beginning to rebound with some areas reporting an increase in prices. But with inventory still at record levels the recovery isn’t near.
“House prices have risen in recent months after a long plunge, according to the National Association of Realtors and the S&P Case-Shiller national index. Fewer Americans owe more than their property is worth, according to a report this week from Zillow.com.
But a full-fledged housing recovery will remain elusive until the market can absorb all the houses and apartments that were built during the housing boom. And on that front, progress has been slow.
About one in seven housing units was vacant in the third quarter, according to the Census Department. This year has registered the highest reading since the government began collecting such data in 1965.” – via CNNMONEY
More Home Building News:
Builders Downsize the Dream Home – WSJ
Bidding Wars Resume – NYTimes

Existing-home prices slide in most metropolitan areas – LA Times
Tax Credit Expands Home Buyer, Economic Opportunities – NAHB

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