In a February 21, 2013 Bloomberg news article it was reported that the housing marketing is starting to stabilize and strengthen. New reports show that more people are showing interest in purchasing their home because of the low mortgage rates and unemployment rates are lowering.
Last year roughly 4.66 million homes were sold, the largest amount sold since the market crashed back in 2007. Additionally, housing prices showed a 12 percent increase in January, the largest increase since 2005. Mortgage foreclosure also fell to the lowest they have been since 2008. All factors that are starting to show that within the next year or so the housing market should make a full recovery.
Several of the countryâ€™s large banks have been making contributions to help the housing market. JP Morgan Chase & Co. reportedly gave $7.9 billion in relief to approximately 87,000 homeworkers. Some of this aid went to help people looking to refinance their homes.
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