Housing Recovery Continues To Gain Strength

According to a recent article from CNNMoney, the housing market recovery is seeing major increases in home prices and number of sales in new homes. The data comes from S&P Case-Shiller reporting home price increases as the third straight quarter of year over year gains, covering 20 major housing markets. The Census Bureau also reports a spike in number of homes sold, jumping by nearly 30% this January from last year. The improving market is attributed near record-low mortgage rates, a drop in number of home foreclosures, and tight supply of new and pre-owned homes for sale. For a deeper look into these reports click here. Image courtesy – S&P Case Shiller.