Posted by: youngragingbull | January 14, 2013

U.S. home sales rise 6% in 2012

Home sales in the U.S. increased 6% in 2012, the first annual increase since 2005, CoreLogic said in a report Monday.

The report said that 4.2 million homes were sold in 2012, up from 3.9 million in 2011. The report added that non-distressed home sales increased 11% to 3.2 million and serious delinquencies declined by nearly 300,000 loans in 2012, which drove the seriously delinquent rate down to 6.9% from 7.4% in 2011.

Short-sales, the sale of real estate where proceeds fall short of the balance owed on the property’s loan, rose 23% to 370,000 units in 2012, the highest level since the real estate downturn began. The report added that there were 302,000 short-sales in 2011 and 274,000 in 2010. In 2013,

CoreLogic projects another 6% rise in home prices “due to greater affordability fueling steady demand.”

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