The New Hampshire Association of Realtors reports that June was the best single month of home sales in eight years.
June marked the 19th consecutive month of year-over-year home sales increases in NH. Bill Weidacher, president of the New Hampshire Association of Realtors, says he is optimistic by the current market because numbers have steadily climbed in 2013 rather than rapidly spiked.
The housing market has a new frontier — turning foreclosed homes into rental properties. Some big-time investors are starting to buy up thousands of homes to turn into rentals. That might help shore up home prices. But some housing advocates are nervous.
For decades, most single-family homes available for rent have been owned by mom-and-pop landlords. Sometimes it's the nice old guy up the street who owns a couple of rental homes, and some even offer advice on the Internet.
A pre-foreclosure sign is seen in front of a home in Miami. Supporters of a plan to reduce the principals owed by many homeowners facing foreclosure say it would prevent larger losses and keep people in their homes.
Credit Chris Arnold / NPR
Edward DeMarco, the acting director of the Federal Housing Finance Agency, says principal reductions would save Fannie Mae and Freddie Mac an estimated $1.7 billion.
Hundreds of thousands of homeowners facing foreclosure might get help by having the amount they owe reduced by Fannie Mae and Freddie Mac.
This is a hot topic in Washington, D.C., with many Democrats pushing for these so-called "principal reductions" to try to help the housing market. On Tuesday, a top federal regulator came a step closer to allowing the move.