2012: The year of a housing turnaround?

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Overall, 2012 marked a huge turnaround year for most local housing markets. In fact, prices rose in 82 of the 100 largest metros at the end of December, compared with just 12 out of 100 in 2011.

And buy-up they did, leading to a 23.4% jump in year-over-year home sales in the City of Chicago last month, the Illinois Association of Realtors said. iar recorded 2,352 Chicago sales last month,

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second year in a row, bringing total 2012 starts to 781,000. With these increases, residential construction made its first positive contribution to GDP in seven years, adding more than a quarter-point to economic growth. The turnaround in home prices was widespread (Figure 1). As of December 2011, 81 of the 100 metropolitan areas tracked by

 · Last year, 1.8 million properties were foreclosed, down 2.7% from 2011, and down 36% from 2010. While the national rate is falling, many of the states hardest-hit by the housing crisis and recession continue to be weighed down by a higher rate of homes in the foreclosure process. Foreclosure activity actually increased in 25 states.

 · 5 Stocks for a Housing Turnaround. Austin Smith Apr 30, 2012 at 12:00AM Other In today’s edition of "Talking Stocks," Austin Smith outlines five stocks that could benefit from a housing turnaround

Job Growth Heralds Housing Turnaround Published on Jan 17, 2012 Shrinking inventory and all-time low mortgage rates could help turn the housing market around. CBS News MoneyWatch senior editor-at-large Jill Schlesinger reports.

Freddie Mac and Florida foreclosure law firm part ways Freddie Mac has instructed its mortgage servicers to stop referring foreclosure cases to Shapiro & Burson, the Virginia law firm accused of improper handling of more than 1,000 deeds for Maryland.

 · More Signs That 2012 Was The Year Of The Housing Recovery. 6. The median marketing time for homes sold in December was 73 days in December, a decrease of 26 days, and 26% below the average marketing time in December 2011 of 99 days. 7. On a year-over-year basis, both existing-home sales and the median sale price have registered double-digit.

 · The fixed-rate 15-year mortgage also hit a new record low of 2.69% from 2.73% a week earlier. Rates have been falling to news lows since the Fed announced last month that it.

 · The Turnaround Towns Report for the third quarter found that the median age of inventory across the United States dropped 17.7 percent over the same period in.