A new report released July 20th by ZipRealty indicates that the U.S. housing market is showing signs that the free fall seen in last 18 months may be leveling off. According to the report the number of single-family homes and condos listed for sale decreased in June from May by 2.1 percent, based on MLS reporting in 28 major cities. This marks the 12th consecutive month that ZipRealty has reported a drop in the number of Multiple Listing Service-listed homes. The median list price in the 28 markets increased to $270,440 in June from $270,027 in May.
Posts Tagged ‘housing market’
Mortgage giants Fannie Mae and Freddie Mac, who have backed 70 percent of new mortgages in recent months, are being taken over by the federal government in an effort to stabilize the housing market according to reports emerging from Washington D.C. The firms will be placed into conservatorship and the top executives will be dismissed.
The holders of the companies’ debt and preferred stock shares will be protected under the conservatorship plan but common stock holders can expect to see their shares drop dramatically in value. The government is looking to make conservative quarterly cash infusions into the companies rather than try to wipe the debt slate clean. The goal is to stabilize the mortgage market without a full scale tax payer bailout of the companies.