In a new report released by data research firm Core Logic, the foreclosure rate in Phoenix has continued to fall.
Homes are getting bigger. Does that mean the housing market is getting stronger? Newly released data from the U.S. Census Bureau shows homes are growing in size. In fact we may see a high water mark in 2012. According to this article, homes are typically built smaller in times of economic downturn and larger during times of prosperity.
A recent report by the U.S. Department of Commerce states a decline in housing starts due to the slowdown in the apartment and multi-family sector. However there was an increase in permits, which is an indicator of future starts, and also single family housing starts currently underway.
A big part of the American dream is slipping away as owning a home becomes more elusive for people across the country. According to a Bloomberg article, home ownership has fallen to its lowest level since 1997.
Zillow says the housing market has hit bottom in more than half the metro areas on its tracking list, but believes there’s still a way to go for areas that continue to decline.
According to the Standard & Poor’s/Case-Shiller home-price index, U.S. home values have declined for six consecutive months, but cities like Phoenix, San Diego and Miami are seeing prices rise.