Rising home prices are also driving down the threshold of underwater homeownership. CoreLogic reported in late March that another 200,000 residential properties returned to a state of positive equity during Q4. For all of 2012, 1.7 million homes moved from negative to positive equity, CoreLogic said.
Accordingly,
household real estate wealth increased by $1.4 trillion in 2012, according to
the Federal Reserve, which suggests that more homeowners will return to the real
estate market to buy and sell.
Higher home prices also have activated homebuilders, who in February broke ground on a seasonally adjusted annual rate of 910,000 homes, the second-fastest pace since June 2008, according to the Commerce Department. Source: Prudential Tropical Realty Monthly Newsletter, April 1, 2013
Higher home prices also have activated homebuilders, who in February broke ground on a seasonally adjusted annual rate of 910,000 homes, the second-fastest pace since June 2008, according to the Commerce Department. Source: Prudential Tropical Realty Monthly Newsletter, April 1, 2013
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