Foreclosure Mess Didn’t Significantly Impact Home Sales

When revelations that banks filed flawed foreclosure paperwork in thousands of cases emerged over the fall, it was widely assumed that the problems would be a disaster for the U.S. housing market.

Now, evidence is emerging that the threat–at least for home sales–may be less significant than it appeared.

Tom Lawler, an independent housing economist in Northern Virginia, scours reports on home sales from metro areas around the country before making a forecast of how home sales will look each month.  He is predicting that next report from the National Association of Realtors (due Dec. 22) will show that November’s sales of previously occupied homes will actually be up 3.2% from October–a seasonally adjusted annual rate of 4.57 million.

Click Here to Read:   Foreclosure Mess Didn’t Significantly Impact Home Sales...