In his latest syndicated real estate column, “I am real estate, hear me roar,” Ken Harney points out a positive 2013 housing trend that you may not have heard about — homeowner equity rose substantially in 2013.
Comparing the third quarter of 2012 to 2013, U.S. homeowner net equity holdings rose $2.2 trillion according to Federal Reserve data, Harney reports. The improvement marks a “record rebound for a 12-month period,” leaving fewer owners underwater and giving consumers more spending power, he writes.
In other headlines:
Home sales pause, but prices climb – Chicago Tribune
Sales down, but county home prices up – Northwest Herald
About 25,000 in Illinois to benefit from Ocwen mortgage settlement – Chicago Tribune
Fed may hedge its taper bet – HousingWire