Home sales hit highest rate in 3 years

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.

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A New And Different Housing Bubble Is Taking Shape

From Business Insider
Wolf Richter
March 19

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

Outlook brightens in national housing survey: NAR | HousingWire

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.