Housing Market, Good News | featured news

Home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery.

The government-backed mortgage financier said it made a profit in the first quarter and that it does not need additional bailout money — a first since the federal government took it over in 2008.

U.S. mortgage giant Fannie Mae made money in the first three months of the year and is not seeking additional federal aid. It's the first time the company has reported a net income gain since it was taken over by the government during the 2008 financial crisis....

Home prices rose in March for the first time since last July, helped by tighter housing inventory, data analysis firm CoreLogic said on Tuesday.

When it comes to the economic recovery, timing is everything — and so far, it’s been off. Take the market performance of housing and autos, two big-ticket purchases that traditionally have moved in tandem. But new data released this week showed housing prices and new home sales dropping off at the same time that auto sales were peaking.

New data show price declines easing in big cities, sales of new homes improving nationally and foreclosures in California dropping to levels not seen since 2007. The housing market's long, cold winter may finally be heading into a springtime thaw.

Single-family home prices rose for the first time in 10 months, in an encouraging sign the battered sector is starting to stabilize, a closely watched survey said on Tuesday.

The relentless decline in home prices is nearing an end and prices should rise for the first time in seven years in 2013, but a possible new wave of foreclosures could threaten the recovery, according a Reuters poll of economists.

U.S. home sales are gradually coming back. A mild winter and a stronger job market have helped boost sales ahead of the crucial spring buying season.

Bank of America said Friday it would reduce by about $100,000 the amount owed by as many as 200,000 underwater homeowners as part of the recently announced government foreclosure settlement with top mortgage servicers.