The Commerce Department reports that housing starts are increasing at the fastest pace in 4 ½ years. The pace is only likely to increase, as building permits increased 4.6%, the biggest increase since June 2008.
CoreLogic, a business research firm, is reporting a steady increase in the number of homeowners with positive equity in their homes. According the recent released study, 21.5% of homes that had negative equity were owners who owned more on their mortgage than the market value of the home. By the end of 2012, this figure was down from the 25.2% in the last quarter of 2011. This is good news for buyers looking for homes, as many homeowners are reluctant to sell when they will still owe money after the sale.
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Keller Williams, Greater Cleveland West ~ Carol Murphy Team