U.S. house prices rose 7.7 percent in the year through June, extending a recovery that’s spurring more homeowners to list their properties for sale.
After a roller-coaster decade of boom-bust-boom, the U.S. housing market is going downhill just when many economists thought annual sales would be heading up.
Rates for 30-year U.S. mortgages held at the lowest level on record as fewer Americans sought loans for home purchases.
Suzanne Baker and her siblings bought a foreclosed home in Atlanta two years ago, added a fourth bathroom, then waited for values to rebound before considering a sale. Now, she says, they’re ready to cash in.
David and Michelle Haisley from Fort Wayne, Indiana, weren’t happy with the performance of their retirement funds, so they made another investment -- a foreclosed home for $27,000.
Guy Asaro, president of McMillin Homes LLC, bought three land parcels in Texas this year while coming up empty in the San Diego area, where the closely held builder is based.
"The homeownership rate has not bottomed yet."
- Paul Diggle on Oct 28, 2014