U.S. Home Values Rose in 2012 for First Gain in 6 Years – Bloomberg 12-20-12

Salient to Investors:

Zillow expects home values to continue to rise in 2013. Low interest rates, improving employment and prices almost 30 percent below the July 2006 peak have attracted buyers and a limited inventory of homes for sale have pushed up prices.

Stan Humphries at Zillow said housing has turned a corner in 2012, as historic affordability and sustained investor interest helped keep demand at a boil. Humphries said as home values rise, more homeowners are freed from negative equity.

Michael Widner at Stifel Nicolaus said rising demand will fuel a virtuous circle that will drive economic growth, housing construction and price increases.

Read the full article at http://www.bloomberg.com/news/2012-12-20/u-s-housing-values-rose-6-in-2012-for-first-gain-in-six-years.html.

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