Foreclosures dropped in the U.S. according to a report released by CoreLogic. As further proof the housing market continues to make significant strides in recovery, foreclosures fell by 65,000 in July. The number of completed foreclosures averaged around 49,000, down 4,000 from June 2013. As the year comes to an end, home prices and sales are continuing to increase while foreclosures are slowing. More here
According to Trulia Price Monitor, asking home prices have increased 3.8%, the largest yearly increase to date and November indicated an annualized growth rate of 10%, proof that home prices are rising. Jed Kolko, Trulia’s Chief Economist says “The rise is due to job growth, falling vacancies and rebounding from price declines of the housing bust.” A large portion of metropolitan cities are now joining the price rebound. Rent has also increased 5.6% nationwide. more here.