Good News in Housing Market

The housing market continues to give up good news. Last week, research firm CoreLogic reported that home prices, including distressed sales, rose by 12.2 percent in May 2013 compared to May 2012. This is the biggest annual gain since February 2006. Tight inventories and historically attractive home loan rates have been the fuel behind the rise.  While this is still 20.4 percent below the housing peak set back in April 2006, it is news that we are still heading in the right direction.