The housing market has remained at the center of the nation’s economic troubles throughout 2010. The housing market started the year flat on its back, and it’s ending the year in nearly the same condition. Home sales are still depressed, home-building remains near a 50-year low, and home prices are still about 30 percent below their peak. Part of the problem this year has clearly been high unemployment. But the ongoing foreclosure crisis also keeps glutting the market with unsold homes. Meanwhile, the government’s efforts to prevent foreclosures over the past year were a pretty big disappointment to many people.
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The National Association of Realtors board of directors voted 729-70 on Monday to ban the controversial practice of “pocket listings.”
Guild Mortgage, an independent mortgage lender, announced late last week that it has promoted three senior members of its leadership team as it continues to grow.