Sales of previously owned homes reached an annual rate of nearly 5 million in February, the strongest pace in more than three years.
The report Thursday from the National Association of Realtors was the latest sign of a housing recovery that has become a major positive force for the economy.
From Business Insider
We have seen it for several years now: foreclosure sales—there were 5 million since the peak of the housing bubble—have become the hunting grounds for investors with two goals: hanging on to these homes until the Fed’s flood of money drives up their value; and defraying the expenses of ownership by renting them out. And funds have a third goal: collecting management fees.
Read more: http://www.testosteronepit.com/home/2013/3/18/housing-bubble-ii-but-this-time-its-different.html#ixzz2OR8rvYgw
The number of Americans who believe homeownership is a positive financial investment is on the rise, and a majority of renters now say homeownership is one of their highest priorities for the future — both indicators that the housing recovery may be taking off.
Outlook brightens in national housing survey: NAR | HousingWire.