Real Estate 2012: The Year the Housing Market Turned the Corner

2012 will probably be considered the year that a sinking housing market finally hit bottom and began to rise again. Home prices, home sales and new home construction all substantially increased amid shrinking inventory and record-low mortgage rates. Adding to the drama (and perhaps aiding the recovery): Lenders finally agreed to atone for illegally foreclosing on thousands of borrowers, and politicians and industry stakeholders seriously began talking about mortgage-debt forgiveness.

Here's a look back at 2012's major developments in residential real estate -- along with insight on what lies ahead for the housing market in 2013.

More on AOL Real Estate:
Find out how to
calculate mortgage payments.
homes for sale in your area.
foreclosures in your area.
Find homes for rent in your area.

Follow us on Twitter at @AOLRealEstate or connect with AOL Real Estate on Facebook.

Add a Comment

*0 / 3000 Character Maximum