26.03.2013 - This housing recovery is different: Investors are now big buyers
There’s no doubt that housing is recovering. Existing home sales—which account for the bulk of the market—have topped year-ago levels for 20 months in a row and existing home prices have bested year-ago levels for 12 consecutive months. In addition, inventories of those homes have dropped to a 4.7 month supply — far below the more normal 6 months. But unlike past housing recoveries, this one is heavily supported by investors — big and small. They account for about a third of home purchases in the existing housing market, according to the National Association of Realtors...............................................Full Article: Source
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