Home prices rose in 67 of 151 U.S. metropolitan areas in Q4, said the National Association of Realtors (NAR) on Thursday. Furthermore the association pointed to a “broad stabilization” of values across the country.
The median price for single-family home resales was up from a year earlier in over 44% of the areas included in the [...]

Sales of previously owned homes rose across the country during the third quarter, according to a report released Tuesday by the National Association of Realtors.
Nationally, sales were up 5.9 percent from the third quarter of last year. Previously owned homes changed hands at a seasonally adjusted annual rate of 5.3 million, according to the report. [...]

New home sales added to our run of good news in the housing market on Monday. Sales jumped 11.0 percent in June to an annual rate of 384,000 and the highest rate this year — well above any economists’ estimates. In fact the month-to-month percentage change was the highest in nearly 9 years. But [...]

Tuesday we reviewed a dozen areas where home prices are rising. Wednesday yielded the release of home sales data with three more significant pieces of great news.
1. Sales of previously owned homes rose for the second month in a row in May. The improvement was 2.4% better than the sales rate in April.
2. [...]

Can anyone think of a more value destroying transaction than foreclosing a home in a dead real estate market. There are more than 700 houses in Detroit listed for less than $3000. And there not selling. In this climate banks can’t possibly expect to recover much of anything from a foreclosed. [...]