Business
Obama to tout mortgage reform to help speed up recovery in housing market
Tuesday, August 6, 2013
The recovery in Phoenix is emblematic of the larger improvements happening in many parts of the country.
Just two years ago, the region was in the throes of the worst housing collapse in the country, with prices down nearly 60 percent from their June 2006 peak and banks foreclosing on 70,000 homeowners a year. While the current median home price remains below peak, the levels have risen 66 percent from September 2011. Buyers are plentiful and homes for sale scarce, leading to bidding wars for resale homes.
Copyright 2013 The Associated Press
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