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Foreclosure crisis fades, housing market finds footing
The foreclosure fade helps explain the eye-popping gains in sales volumes and prices witnessed in 2013.
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Today’s home prices are not far off their previous peak in April 2007 – immediately before the housing bust.
The volume of sales can be hurt if interest rates and prices rise, which slows the need for more new-home construction
Prices were up 7.5 percent for the year ended in June, in contrast to the 11.4 percent of June 2013.
Growth is slowest in the Northeast, faster in the Midwest
Builders say one thing, economists say another.
Foreclosure filings in Nevada dropped in October, which was the first month of a new state law that mandates tighter foreclosure-processing requirements.
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