Low Interest Rates Spurs Housing Market Recovery

The housing market has returned to life this year as improvements continue to be seen in a variety of sectors.

Through this survey, consumers revealed a better outlook towards employment and the overall economy.

The release of the Department of Treasury and the Housing and Urban Development October Edition of the Obama Administration Housing Scorecard shows that the Federal Housing Finance Agency's housing price index posted the largest annual gain in five years.

Along with this, new home sales are at the fastest pace since April 2010.

Because of these gains, the scorecard indicates that 1.3 million additional are now above water with their mortgages.

Read more: Realty Times