| Home prices finally hit a bottom in 2012, well ahead of many predictions that called for continued price drops this year. Prices were up 6% from one year ago in October, according to CoreLogic, putting them on track for their best year since 2005. Housing starts, which hit a bottom three years ago, ramped up to their highest level in four years.
Sales of new homes are running around 20% of last year’s levels, while existing home sales are up around 10%. Continued declines in homes listed for sale—particularly foreclosures—explain much of the improving price picture............................................Full Article: Source
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