The REALTORS® Confidence Index is a key indicator of housing market strength based on a monthly survey sent to over 50,000 real estate practitioners. The latest data reported 61% of respondents indicating prices were higher than a year ago, and 37% of homes were selling at the original list price, or for a higher net price. This indicates demand is still outpacing supply of homes. Which means buyers will still have to compete for the best homes in the most desirable areas.
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The Washington Post recently posted an article written by Damian Paletta examining the exposure of risky mortgages held by government backed entities. In the article Paletta writes FNMA, FHLMC, and FHA guarantee almost $7 trillion in mortgage related debt.