Statistics show that the numbers for home prices, housing starts, AND sales of existing homes are all on the rise! Shadow inventory and foreclosures are both declining, and housing inventories are at record lows.
Overall, the increase in the amount of home foreclosures are slowing, and there is a small amount of new homes being built. Therefore, foreclosures are being absorbed into the market due largely to the inventory shortages of new homes. Unfortunately, in some cities, foreclosures are mostly concentrated in particular parts of town, causing those markets to be be adversely affected.
For more details on the subject, read Nick Timiraos’ article, Housing Issues to Watch in 2013, in the Wall Street Journal.housing foreclosures, housing inventory, housing market, market trends, real estate trends, statistics for 2013 Posted by