Housing Market Strong and Growing

The housing market in area's like Denver, Colorado are as hot as ever, while housing across the nation continues to pick up strength. Here is what the Federal Housing Finance Agency (FHFA) had to say recently:

The economy isn’t back to normal quite yet, but “we are seeing signs of recovery in the housing market across a number of dimensions,” Edward DeMarco, acting director of the Federal Housing Finance Agency (FHFA), testified last week before the U.S. Senate Committee on Banking, Housing and Urban Affairs.

DeMarco noted that net income for Freddie Mac amounted to $4.5 billion in the fourth quarter of 2012—which marked the fifth consecutive quarter for positive earnings. Net income for the fourth quarter of 2012 for Fannie Mae totaled $7.6 billion—the fourth consecutive quarter for positive earnings, DeMarco told the Senate committee.

DeMarco also cited National Association of REALTORS® data that pointed to a constrained inventory of for-sale homes at about a 4.7 months worth of supply; a year earlier that number stood at a 6.4 months supply. He also said the FHFA index shows that national home prices rose 6.5 percent for the 12-month period ending in January.

Source: Federal Housing Finance Agency