August 10, 2012
Declining REO Sales Increase Home Prices
Home prices are rising again due to the slowdown in REO sales and a decline in the shadow inventory of seriously delinquent loans hanging over the housing market, according to experts. This is a positive sign for the housing market that has been suffering for years. More homeowners are taking advantage of these historically low interest rates and refinancing their current mortgage to lower their monthly expense. As home values increase that also means opportunity for people to get out from being "underwater". This is going to be a key statistic for analysts to watch and report on throughout the rest of the year. It is also a good sign as more and more people are getting approved for loans and FHA mortgages.