Fourth: The housing market is now 64 percent of the way back to “normal,” and we are entering the third phase of the recovery, according to Trulia’s monthly Housing Barometer.
What we’re waiting on now, according to Trulia, is the fourth phase, in which “young adults finally start moving out of their parents’ homes. Rising Rates Prompt Cash Buyers to Act: While higher mortgage rates have been blamed for the slowdown in pending home sales, they may be contributing to an increase in cash purchases, RealtyTrac suggested in a recent report.
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