Salient to Investors:
Zillow expects home values to continue to rise in 2013. Low interest rates, improving employment and prices almost 30 percent below the July 2006 peak have attracted buyers and a limited inventory of homes for sale have pushed up prices.
Stan Humphries at Zillow said housing has turned a corner in 2012, as historic affordability and sustained investor interest helped keep demand at a boil. Humphries said as home values rise, more homeowners are freed from negative equity.
Michael Widner at Stifel Nicolaus said rising demand will fuel a virtuous circle that will drive economic growth, housing construction and price increases.
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