The Federal Housing Finance Agency, the new regulator for Fannie Mae and Freddie Mac, as well as the U.S. Department of Housing and Urban Development, announced Tuesday that they would loosen lending rules to make credit more available to Americans.
Whether this will take the sting out of rising interest rates and help the housing market for the remainder of the year is anyone’s guess. In the meantime, here are six trends you need to know if you stumble into a real estate conversation at your next neighborhood party:
Home prices are through the roof. Prices continue to rise this year, albeit at a slower pace than last year. The median existing single-family home price was $191,600 in the first quarter, up 8.6 percent from $176,400 in the first quarter of 2013. The median existing single-family home price increased in 74 percent of markets, as measured by the National Association of Realtors, with 125 out of 170 metro areas showing gains based on closings in the first quarter 2014, compared with the first quarter of 2013. The housing price bubble is especially pronounced in California and at the higher end of the market.
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http://finance.yahoo.com/news/6-housing-trends-may-surprise-213200468.html
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