4th Quarter 2012 Housing Market Showing Recovery

A new report from the U.S. Department of Housing and Urban Development showed a national recovery in the housing marketing in the fourth quarter of 2012, however regional statistics varied. From the summary, housing production was up in 2012 with a 24% increase in new single family home construction over 2011 and there was a 19.9% increase in new single family homes sold. On top of this great news for the housing markets, even better news for buyers was also included in the report: a record low 3.66% average interest rate for 30-year fixed-rate mortgages.

Low Interest Rate Mortgages, Doctor Mortgages, Government Loans

 

The report summary can be found here: Fourth Quarter 2012 U.S. Market Conditions