A number of housing markets nationwide have been seeing modest increases in median list prices. In the last year alone, median national list prices ticked up 6.82 percent year over year in February, according to Realtor.com data of 146 metro markets. And a number of markets have seen increases in just one month by 3 or 4 percent.
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Economists say the housing market is starting to heal, but too many people aren’t aware of it because they’re judging a housing recovery on the wrong sign: What’s happening with home prices.
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After a surge last month, housing starts dropped in February by 1.1 percent, the Commerce Department reported Tuesday. However, the slip was offset by a hopeful sign for builders that a recovery is still on track: Permits for future construction soared 5.1 percent, reaching its highest level in more than three years.
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The Federal Reserve announced it will fine eight more banks for allegedly improperly foreclosing on home owners. The financial institutions were not included in the recent $25 billion mortgage settlement involving the nation’s five largest banks.
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Realtor.com has officially rolled out its HyperSocial Agent Search Tools, aimed at helping real estate professionals better connect through online networks and communities with their customers.
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Federal Housing Finance Agency general counsel Alfred Pollard warned that state and local laws meant to aid home owners at risk of foreclosure actually delay the process, hurting the housing finance system and neighborhoods.
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