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Home prices continued to climb


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Home prices have enjoyed a strong rebound during the past year, as improving sales and a drop in foreclosures have removed two major drags on the market. And while mortgage rates have been rising lately, they are still at historically low levels.

 

The rebound in home prices means that fewer homeowners are underwater. Since they no longer owe more on their mortgages than their homes are worth, it's easier for them to sell their existing home and buy a new one, which in itself helps the market.
 
Housing is also critical to the overall economy, since an improvement in household wealth can free up money for homeowners to spend on other items. It's also helped spark a recovery in home building, which puts more construction workers back to work.

 

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http://money.cnn.com/2013/11/26/news/economy/home-prices/index.html?iid=HP_LN

 

I hope things are starting to improve in the community you live in.

Edited by trottigy
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